Renata clocks 20pc growth against mkt growth of 17pc
Listed pharmaceutical company Renata witnessed a steady growth in net profit for the last three fiscal years (FYs) as the company maintained its high professional standard in manufacturing ‘quality’ medicines. The company reported its net profit of above Tk 3.82 billion for the FY 2018-19 with a growth of 19.59 per cent compared to the previous FY. For the FY 2017-18, the company’s net profit rose 22 per cent to close at above Tk 3.19 billion from above Tk 2.61 billion reported for the FY 2016-17. The company has featured growth above 19 per cent for the FY 2018-19 whereas the market growth varies from 11 per cent to 17 per cent. For the FY 2018-19, the Renata’s turnover rose to above Tk 25.43 billion from Tk 21.33 billion reported for the FY 2017-18. The company’s gross profit was above Tk 11.15 billion for the FY 2018-19, above Tk 9.34 billion for the FY 2017-18 and above Tk 8.10 billion for the FY 2016-17. Renata reported its consolidated EPS (earnings per share) of Tk 46.63 for the FY 2018-19 against 38.57 for the FY 2017-18. The company’s consolidated EPS was Tk. 12.78 for July-September 2019 as against Tk. 10.46 for July-September 2018. The company disbursed 95 per cent cash and 15 per cent stock for the FY 2017-18 and 130 per cent cash and 15 per cent stock for the FY 2016-17. Renata, presently an ‘A’ category company, was listed on Dhaka Stock Exchange in 1979. The company’s sponsor-directors hold 51.16 per cent shares, institutes 18.91 per cent and general investors 7.26 per cent as on November 30, 2019. Foreign shareholders also hold a significant amount of shares in Renata. The foreigners hold 22.67 per cent shares of the company as on November 30, 2019. The company’s share price closed at Tk 1026.80 each on Thursday with a loss of 4.20 per cent or Tk 45.
41pc enterprises bemoan meagre SME loan
Nearly 41 per cent of small enterprises consider scanty the amount of loan offered by SME Foundation under its Credit Wholesale (CWS) programme, according to a study. The Bangladesh Institute of Development Studies (BIDS) study shows as of April 2017, Tk 575 million was given to 1,200 micro- and small enterprises. It said 450 of the loanees were women entrepreneurs. The CWS programme contributed only 6.0 per cent (Tk 732,000 on average per firm) of the total credit disbursed in the past five years. The BIDS findings illustrate that almost 73 per cent of the enterprises used the credit to raise their working capital base. The CWS programme under the Finance and Credit wing is one of the major activities of the foundation. SME Foundation has taken it as a pilot scheme with own funds to provides small entrepreneurs with collateral-free loan at 9.0 per cent interest rate. The BIDS talked to 526 respondents who reported that access to the CWS credit facility is easier compared to other credit sources. The foundation received Tk 2.0 billion in 2007 to promote SMEs, but it needs Tk 8.0 billion right now considering the country’s current economy.
LafargeHolcim tops weekly turnover chart
LafargeHolcim Bangladesh topped the weekly turnover chart in last week following investors’ increased participation in transactions. The company posted a turnover of above Tk 909.52 million and grabbed 5.77 per cent of the weekly market turnover. In last week, the Dhaka Stock Exchange (DSE) featured a turnover above Tk Tk 15.77 billion. Of total weekly turnover, above Tk 4.88 billion came from the transactions of the shares of top 10 companies. The turnover of LafargeHolcim Bangladesh rose 10.35 per cent in last week compared to previous week. Of other turnover leaders, Khulna Power Company posted a turnover of Tk 784.90 million snaring 4.98 per cent of the market turnover. Standard Ceramic Industries captured 2.63 per cent of the weekly turnover after featuring a value of Tk 414.63 million. Beacon Pharmaceuticals posted a turnover of Tk 340.49 million and grabbed 2.16 per cent of the weekly turnover. Of other weekly turnover leaders, Square Pharmaceuticals featured a turnover of Tk 311.38 million, Pioneer Insurance Company Tk 283.54 million, City Bank 242.82 million and National Tubes Tk 242.82 million.
MBL holds biz Conference
The Strategic Business Conference- 2020 of Mercantile Bank Limited, was held at Radisson Blu Dhaka Water Garden on Saturday. The Head of 148 branches, Zonal Heads and Head of Divisions participated in the conference. Morshed Alam M.P., Chairman of the Board of Directors of the bank, was the chief guest while Managing Director & CEO Md. Quamrul Islam Chowdhury presided over the conference.
Premier Bank annual biz Conference
The Annual Business Conference-2020 of The Premier Bank Limited with the theme “20 Years of Prosperity” was held on Saturday at Renaissance Hotel, Gulshan Dhaka. Dr. H.B.M. Iqbal, Chairman, Board of Directors of the bank, graced the occasion as the Chief Guest.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|DSEX||4,197.39291||↓ 30.97325||↓ 0.73 %|
|↓ 133.13||↓ 0.46 %|
|FTSE100||7,587.85||↓ 10.27||↓ 0.14 %|
|Nikkei 225||23,850.57||↑ 110.70||↑ 0.47%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 59.04 ||↓ 0.52||↓ 0.87 %|
|Crude Oil (Brent)||$ 64.98||↓ 0.39 ||↓ 0.60 %|
|Gold Spot||$ 1,562.34||↑ 10.02||↑ 0.65 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.2235|
|GBP 1||BDT 108.654|
|EUR 1||BDT 92.5088|
|INR 1||BDT 1.17173|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<