Samata Leather witnesses decline in profits
As of the first nine months of the 2019-2020 fiscal year, the company’s revenue has declined by 51%
Samata Leather Complex Limited – a listed company on the capital market in the tannery industry – has incurred a loss in the 2019-2020 financial year, despite making a profit in the third quarter of the last financial year.
In the third quarter of that financial year, the company lost Tk0.041 per share. Last year, the company's earnings per share (EPS) was Tk0.073.
The company's revenue increased during the second quarter and half yearly account of the same financial year.
Samata Leather, producer and exporter of crust and finished leather products, released its third quarter statements on Monday.
As of the first nine months of the 2019-2020 fiscal year, the company's revenue has declined by 51%. EPS for the fiscal year from July 2019 to March 2020 was Tk0.039. In the previous financial year, the EPS was Tk0.073.
The company was listed on the stock exchange in 1998. Even though it made losses in 2015, 2016 and 2017, Samata Leather made profits in 2018 and 2019.
Following the latest data for the month of July, out of the 1.3 crore shares of the company, the entrepreneurs and directors hold 33.86% of shares.
The institutional investors hold 6.12% and general investors hold 60.02% of shares.
