Earnings of three listed automobile companies declined for the year ended on June 30, 2020 compared to same period of the previous year due to various reasons including the impact of COVID-19.
Of the companies, the earnings per share (EPS) of NAVANA CNG declined to Tk. 0.90 for the year ended on June 30, 2020 from Tk 1.29 reported for same period of the previous year.
The company has also reported NAV per share of Tk 35.63 and NOCFPS of Tk 9.75 for the year ended on June 30, 2020 as against Tk. 35.37 and Tk. 8.41 respectively for the same period of the previous year.
In a disclosure, the company said its total sales revenue has increased significantly. Around 56.88 per cent of the sales revenue is from LPG business. Since Navana LPG is running at loss due to initial operational stage, the consolidated EPS resulted has decreased compared to the corresponding period of last year.
The board of directors of NAVANA CNG has recommended 10 per cent cash dividend for the year ended on June 30, 2020 for general shareholders only excluding sponsors and directors.
Total dividend amount payable to the general shareholders is above Tk 39.41 million for above 39.41 million shares subject to approval by the shareholders in the Annual General Meeting (AGM).
The company has informed that the sponsors and directors are holding above 29.11 million shares out of above 68.52 million shares of NAVANA CNG.
Runner Automobiles has reported consolidated EPS of Tk. 1.97 for the year ended on June 30, 2020 against Tk 4.41 for same period of the previous year.
It has also reported consolidated NAV per share of Tk. 63.39 and consolidated NOCFPS of Tk (20.34), a negative value, for the year ended on June 30, 2020 as against Tk. 65.49 and Tk. 0.59 respectively for the same period of the previous year.
In a disclosure, the company has informed that the overall automobile industry has been tremendous impacted in the second half of the financial year due to new road transport act, pandemic situation for COVID 19 and other macroeconomic issues.
"Those have been reflected in the company's earnings as well as in the operating cash flows," the disclosure said.
Besides, the company has extended its credit facilities for the retail customers in motorcycle and three-wheeler business segments which increased the overall working capital cycle.
The board of directors of Runner Automobiles has recommended 10 per cent cash dividend for the year ended on June 30, 2020.
Aftab Automobiles has reported an EPS of Tk. 0.09 for the year ended on June 30, 2020 against Tk 1.25 reported for same period of the previous year.
It has also reported NAV per share of Tk 60.20 and NOCFPS of Tk (6.02), a negative value, for the year ended on June 30, 2020 as against EPS of Tk 60.95 and Tk 3.74 respectively for the same period of the previous year.
The board of directors of Aftab Automobiles has recommended 10 per centcash dividend for the year ended on June 30, 2020 for the general shareholders only excluding sponsors and directors.
The company has informed that the sponsors and directors are holding above 27.20 million shares out of above 95.73 million shares of Aftab Automobiles and that total dividend amount payable to the general shareholders is Tk. Above 68.52 million for above 68.52 million shares, subject to approval by the shareholders in the ensuing AGM.
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