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Aman Feed launches floating plant

FE Report | November 29, 2017 00:00:00

The floating fish feed plant of Aman Feed started its commercial production on Tuesday, which will enhance the production capacity as well as the profitability of the company.

Md Rafiqul Islam, chairman of the company, inaugurated the state-of-the-art floating plant. Directors and high officials of the company were present on the occasion, said a company statement.

On January 1, the board of directors of Aman Feed had taken a decision to procure and install machineries to raise the production capacity by about 43,200 metric tonnes a year.

Following the enhancement of production capacity, it is expected that the sales will increase by about Tk 1.83 billion a year and net profit after tax will surge by about Tk 145 million a year.

Share of the company, listed on the Dhaka Stock Exchange (DSE) in 2015, closed at Tk 67.50 on Tuesday, losing 0.73 per cent over the previous day.

The board of directors of the company has recommended 20 per cent cash and 10 per cent stock dividends for the year that ended on June 30, 2017.

The final approval of dividend will come during the annual general meeting (AGM) of the company to be held on its factory premises in Sirajganj on December 27.

The company has also reported earnings per share (EPS) of Tk 4.54, net asset value (NAV) per share of Tk 33.96 and net operating cash flow per share (NOCFPS) of Tk 4.58 for the year ending on June 30, 2017 as against Tk 4.48, Tk 34.18 and Tk 3.39 respectively for the same period of the previous year.

The company is primarily engaged in manufacturing and distribution of high quality poultry feed, fish feed, shrimp feed and cattle feed.

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