Best Holdings, which owns luxury hotel Le Méridien Dhaka, reported an 80 per cent year-on-year decline in profit in FY25, citing a sharp fall in revenue amid the country's prolonged economic slowdown.
According to a disclosure published on the Dhaka Stock Exchange (DSE) on Tuesday, the company's consolidated profit dropped to Tk 297 million in the year ended June 30, 2025, from around Tk 1.41 billion a year earlier.
The company said the weaker earnings resulted from an unexpected decline in revenue as adverse macroeconomic conditions affected business operations and customer demand.
Meanwhile, Best Holdings is yet to publish any quarterly performance reports for FY26, although it ended on Tuesday. FY25 annual financial results were already delayed.
The board of directors recommended no dividend for FY25, compared with a 10 per cent cash dividend paid for the previous fiscal year.
The company also said the date, time and record date for its next annual general meeting (AGM) would be announced only after receiving an order from the competent court, as ongoing legal or regulatory proceedings have delayed the process.
Following the earnings announcement, investors reacted negatively, sending the company's share price down 5.10 per cent to Tk 14.90 in the first two hours of trading on the DSE on Tuesday.
Best Holdings was listed on the stock market in February 2024 after it raised Tk 3.50 billion through an initial public offering (IPO). The FY25 results represent the company's second annual financial disclosure since its market debut.
Le Méridien Dhaka, the company's flagship asset, is a five-star luxury hotel located about three kilometres from Hazrat Shahjalal International Airport and serves both business and international travellers.
In contrast to Best Holdings, fellow listed hospitality company Unique Hotel & Resorts, the owner of The Westin Dhaka, reported a much stronger financial performance for FY25. The company posted a net profit of Tk 1.53 billion and recommended a 16 per cent cash dividend for its shareholders, highlighting the divergent fortunes of the country's two listed hotel operators.
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