Beacon Pharma may export drugs to Syria

KEY FINANCIALS

• Revenue grew 20% from Tk464.68 crore in FY19 to Tk559.07 crore in FY20
• Net profit jumped by 223% in FY20 compared to FY19
• EPS stood at Tk1.65 in the FY20
• Recommended a 6% cash dividend for its shareholders for FY20

Beacon Pharmaceuticals Limited, listed on both stock exchanges in the country, said it may export drugs worth $5 million to Syria by December 2021 if the Syrian government agrees.

A technical team of Syrian government recently inspected Beacon Pharma's plant and expressed satisfaction verbally on the company's overall operations.

However, no written agreement or deal has been made between the two parties, said Beacon Pharma on the Dhaka Stock Exchange and Chittagong Stock Exchange websites on Sunday, after they inquired about a news report that said the company may export drugs to Syria.

It said there is potential to increase exports to $10 million within one year, which may have a positive impact on the company's financials.

"The worldwide Covid-19 situation is going down very roughly. In this situation we do not confirm this deal before signing the agreement.'

"We also assure you, after completion of the signing ceremony with the government of Syria we will inform you and other regulatory authorities on time," it added.

Beacon is a very popular name in the country's pharmaceutical industry due to its high-quality anticancer drugs, cardiovascular drugs, gastrointestinal medicines, antibiotics, anti-coagulants, protein supplements, muscle relaxants, anti-histamine, analgesics and NSAIDS.

Its plant is situated on a 29 acre land in Bhaluka, Mymensingh.

Beacon Pharma, incorporated in 2001 as a private limited company, was listed on the stock exchanges in 2010.

The company's revenue increased from Tk464.68 crore in FY19 to Tk559.07 crore in the FY20 – a 20% growth.

The company's net profit increased by 223% in FY20 compared to the previous year.

In FY19, its net profit was Tk11.77 crore and earnings per share (EPS) was Tk0.51, while its net profit was Tk38.06 crore and EPS Tk1.65 in the FY20.

The company has recommended a 6% cash dividend for its shareholders for FY20.