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Confidence Cement has posted an impressive 247 per cent growth in its third-quarter (Q3) profits for January-March, 2021 due to increased sales volume and income from sale of a subsidiary company.
In a filing with Dhaka Stock Exchange (DSE) on Monday, the company said its earnings per share (EPS) stood at Tk 7.80 for January-March 2021, up by a whopping 247 per cent, from Tk 2.25 in the corresponding period.
The company’s EPS for nine months until March, 2021 stood at Tk 14.16 against Tk 6.25 for July 2019-March 2020.
The net operating cash flow per share (NOCFPS) was Tk 7.13 for July 2020-March 2021 as against Tk 10.51 for July 2019-March 2020.
The net asset value (NAV) per share was Tk 74.46 as of March 31, 2021, and Tk 64.70 as on June 30, 2020.
The company has informed that revenue increased due to an increase of sales volume, reduced cost of materials, and decline of finance cost.
The sale of the subsidiary company, Zodiac Power Chittagong worth Tk 230.53 million as non-operating income and the increase of the share of profit from the associate companies, also contributed to higher the EPS, said the company.
Net operating cash flow per share decreased due to less collection from the customers, cash used for operating activities as working capital, and increase of tax payment while the increase of profitability is attributable for increasing the NAV per share, the company said in the filing.
Each share of the company, which was listed on the DSE in 1995, closed at Tk 126.30 on Sunday. Its shares traded between Tk 97 and Tk 137.80 in the last one year.
The company disbursed 15 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2020. In 2019, it provided 15 per cent cash and 15 per cent stock dividend.
The company’s paid-up capital is Tk 782.35 million, authorised capital is Tk 1.0 billion and the total number of securities is 78.23 million.
The sponsor-directors own 30.03 per cent stakes in the company while the institutional investors own 17.32 per cent and the general public 52.65 per cent as of April 30, 2021, the DSE data shows.