Bangas Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014
April 28, 2014
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Bangas Limited reported unaudited earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported turnover of BDT 33,343,803 compared to BDT 36,083,162 for the same period a year ago. Operating profit was BDT 8,094,014 compared to BDT 6,284,036 last year. Net profit before WPPF was BDT 8,232,870 compared to BDT 6,330,061 last year. Net profit before tax was BDT 7,821,227 compared to BDT 6,013,558 last year. Net profit after tax was BDT 5,670,389 or BDT 1.55 per share compared to BDT 4,359,830 or BDT 1.19 per share last year.
For the nine months, the company reported turnover of BDT 101,722,720 compared to BDT 102,227,882 for the same period a year ago. Operating profit was BDT 23,119,377 compared to BDT 17,146,373 last year. Net profit before WPPF was BDT 23,376,417 compared to BDT 17,298,703 last year. Net profit before tax was BDT 22,207,596 compared to BDT 16,433,768 last year. Net profit after tax was BDT 16,100,507 or BDT 4.40 per share compared to BDT 16,433,768 or BDT 3.25 per share last year. Net asset value was BDT 33.97 per share as on March 31, 2014. Cash used in operating activities were BDT 8,086,252 compared to cash flows from operating activities of BDT 798,583 last year. Net operating cash flow negative was BDT 2.21 per share compared to positive BDT 0.22 per share last year. Acquisition of fixed assets was BDT 29,720 compared to BDT 107,450 last year.
Bangas Limited is a Bangladesh-based company, which is engaged in manufacturing bread and biscuits (sweet and salted). The principal activity of the Company is to carry on automatic and semi-automatic bread and biscuit manufacturing and deal in bread, flour, biscuits, pastry, cakes, confectionery, and other farinaceous food products. It sells its products to both local and to customers abroad. The Companyâs products include Grand Choice, Evening Touch, Wonder, Mango Cream, Pineapple Cream, Choco Cream, Fruity Cream, Treat, and Rainbow Cream. The Company exports its products to Bhutan, Singapore, Nigeria, Oman, Canada, United Kingdom, United States of America, and Australia.