ACI net profit crosses Tk 1.0 billion-mark, to launch electronic business
Friday, 17 April 2009
Raihan M Chowdhury
The net profit of ACI Ltd, country's one of the leading conglomerates crossed Tk 1.0 billion-mark for the first time in the year ended December 31,2008 and stood at Tk. 1075.67 million with earning per share (EPS) of Tk. 66.52.
The net profit was only Tk. 313 million in the year ended December 31,2007 with the EPS of Tk. 19.03.
According to company sources, the net profit of ACI Ltd whopped because of capital gain on account of selling the shares of ACI Formulations Ltd. ACI Formulations, a subsidiary of ACI Ltd floated a total of 89,87,500 shares with the face value of Tk 10 under direct listing in 2008.
The share price of the ACI Formulations ranged between Tk 145.50 and Tk 250.00 during the last 52-week period. The company made debut on the DSE on November 19,2008.
Meanwhile, the company has further diversified its business.
Under the latest business expansion, the Consumer Brands of the company, a popular name in the domestic fast moving consumer goods (FMCG) market has been allowed to embark into electronic business in the name of "ACI Consumer Electronics".
The Unit will introduce Panasonic branded audiovisual products in Bangladesh, said a company source.
The net profits of ACI Ltd were Tk 85 million in 2003, Tk 90 million in 2004, Tk 112 million in 2005 and Tk 154 million in 2006, according to the annual reports of ACI.
The Board of Directors of ACI has recommended cash dividend @ 100 per cent and stock dividend @ 20 per cent (i.e. 1 bonus share for every 5 shares) for the year 2008. The record and annual general meeting dates were fixed at May 14 and June 18 respectively.
The company's dividend per share was Tk 8.50 against Tk 10 each in 2007 against Tk 6.00 in 2006.
There will be no price limit on the trading of the shares of the company on Sunday on the Dhaka Stock Exchange (DSE) following its corporate declaration, according to a DSE website news.
ACI Consumer Brands was initiated in 1995 with two major brands of the company - ACI Aerosol and Savlon. The division started to take new businesses through off shore trading as well as local manufacturing. In this process ACI Consumer Brands launched many new products and also bonded with Joint Venture business relationships with 'Dabur India' and 'Tetley UK' and attained international alliances with world renowned companies.
The consumer brands division expanded its business in 2008 through launching two projects, ACI Pure Flour Ltd and ACI Food Ltd.
The net profit of ACI Ltd, country's one of the leading conglomerates crossed Tk 1.0 billion-mark for the first time in the year ended December 31,2008 and stood at Tk. 1075.67 million with earning per share (EPS) of Tk. 66.52.
The net profit was only Tk. 313 million in the year ended December 31,2007 with the EPS of Tk. 19.03.
According to company sources, the net profit of ACI Ltd whopped because of capital gain on account of selling the shares of ACI Formulations Ltd. ACI Formulations, a subsidiary of ACI Ltd floated a total of 89,87,500 shares with the face value of Tk 10 under direct listing in 2008.
The share price of the ACI Formulations ranged between Tk 145.50 and Tk 250.00 during the last 52-week period. The company made debut on the DSE on November 19,2008.
Meanwhile, the company has further diversified its business.
Under the latest business expansion, the Consumer Brands of the company, a popular name in the domestic fast moving consumer goods (FMCG) market has been allowed to embark into electronic business in the name of "ACI Consumer Electronics".
The Unit will introduce Panasonic branded audiovisual products in Bangladesh, said a company source.
The net profits of ACI Ltd were Tk 85 million in 2003, Tk 90 million in 2004, Tk 112 million in 2005 and Tk 154 million in 2006, according to the annual reports of ACI.
The Board of Directors of ACI has recommended cash dividend @ 100 per cent and stock dividend @ 20 per cent (i.e. 1 bonus share for every 5 shares) for the year 2008. The record and annual general meeting dates were fixed at May 14 and June 18 respectively.
The company's dividend per share was Tk 8.50 against Tk 10 each in 2007 against Tk 6.00 in 2006.
There will be no price limit on the trading of the shares of the company on Sunday on the Dhaka Stock Exchange (DSE) following its corporate declaration, according to a DSE website news.
ACI Consumer Brands was initiated in 1995 with two major brands of the company - ACI Aerosol and Savlon. The division started to take new businesses through off shore trading as well as local manufacturing. In this process ACI Consumer Brands launched many new products and also bonded with Joint Venture business relationships with 'Dabur India' and 'Tetley UK' and attained international alliances with world renowned companies.
The consumer brands division expanded its business in 2008 through launching two projects, ACI Pure Flour Ltd and ACI Food Ltd.