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Olympic Industries boosts production capacity

FE Report | May 04, 2018 00:00:00

Olympic Industries -- the country's oldest consumer goods manufacturing company - has enhanced its capacity of cartoon, noodles and bakery manufacturing lines to the growing demand for its products.

Commercial operation of the company's cartoon manufacturing line completed with corrugation and printing with an estimated annual capacity of 66 million cartoons and the commercial production started from Tuesday at the company's Kutubpur factory, said a disclosure posted on the Dhaka bourse's website on Thursday.

"Commercial operation of the company's noodles manufacturing line with an estimated annual capacity of 9,000 metric tons also started from Tuesday at the company's Kutubpur factory," said the disclosure.

Commercial operation of an additional tunnel oven to increase the company's annual bakery capacity by 1,800 metric tonnes started from Tuesday at the company's Madanpur factory, it added.

The company has also informed that it also plans to enter into a third-party manufacturing agreement with Lucerne Cocoa & Chocolate Products, to have its Chocolate products manufactured by Lucerne.

"The agreement will be for an initial period of two years, commencing from June 2018 for an estimated monthly production of 20 metric tonnes," the disclosure said.

Each share of the company, which was listed on the Dhaka bourse in 1989, closed at Tk 265.20 on Thursday, registering an increase of 0.45 per cent over the previous session.

The company's paid-up capital is Tk 1.99 billion and authorised capital is Tk 2.0 billion while the total number of securities is 199.93 million.

The sponsor-directors own 27.77 per cent stake in the company, while the institutional investors 12.81 per cent, foreign 44.40 per cent and the general public 15.02 per cent as on March 31, 2018, the DSE data shows.

The company disbursed 45 per cent cash dividend for the year ended on June 30, 2017.

The company has also reported earnings per share (EPS) of Tk 2.32 for January-March quarter of 2018 as against Tk 2.26 for the same quarter last year.

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