Loading...
The Financial Express

RAK Ceramic's net profit drops 18pc in Q1

| Updated: May 31, 2020 10:39:01


RAK Ceramic's net profit drops 18pc in Q1

The net profit of RAK Ceramics (Bangladesh) fell more than 18 per cent year-on-year in the first quarter (Q1) for January-March, 2020 due to lower sales amid ongoing pandemic.

The board of directors of the company in a virtual meeting through digital platform on Thursday approved the un-audited financial statements of the company for the first quarter ended on March 31, 2020 and disclosed it.

As per the disclosure, the company's net profit stood at Tk 151.69 million in January-March, 2020 which was Tk 185.94 million in the same period of the previous year.

The company's total sales for the January-March, 2020 period was Tk 1.46 billion as against Tk 1.48 billion in the same quarter last year.

The company's earnings per share (EPS) also fell 18.60 per cent in January-March, 2020 quarter compared to the same quarter of the previous year.

Its EPS stood at Tk 0.35 for January-March 2020 as against Tk 0.43 (Restated) for January-March 2019.

The net operating cash flow per share (NOCFPS) was Tk 0.59 for January-March 2020 as against Tk 0.47 (Restated) for January-March 2019.

The net asset value (NAV) per share stood at Tk 17.54 as on March 31, 2020 which was Tk 18.42 on March 31, 2019.

Recently, the board of directors of the company has recommended 15 per cent cash dividend for the year ended on December 31, 2019.

In 2018, the company disbursed 10 per cent cash and 10 per cent stock dividend.

Listed in 2010, each share of the RAK Ceramics closed at Tk 26 on March 25, on the Dhaka Stock Exchange, the last session before government holidays started.

Its share traded between Tk 22.50 and Tk 36 in the last one year.

The company's paid-up capital is Tk 4.27 billion, authorised capital is Tk 6.0 billion and the total number of securities is 427.96 million.

Sponsor-directors own 72.08 per cent stake in the company while institutional investors 15.76 per cent, foreign investors 0.02 per cent and general public 12.14 per cent as on February 29, 2020, the DSE data showed.

RAK Ceramics (Bangladesh) is the country's largest and renowned tiles and sanitary ware brand. Incorporated in Bangladesh in 1998, RAK Ceramics Bangladesh is a UAE-Bangladesh joint venture project.

[email protected]

Share if you like

Filter By Topic