Bangas returns to profit in Q1

Bangas Ltd – the manufacturer of several brands of biscuits – posted profits in the first quarter of the current fiscal year.

In the July-September quarter, the company's earnings per share (EPS) stood at Tk0.06.

Due to the cost escalation during the pandemic period, it incurred a loss in the same quarter of FY21 and the loss per share stood at Tk0.12.

Its peer firm on the stock market, Olympic Industries reported lower profits for the same period of FY22.

Its EPS declined to Tk2.06 in the July-September quarter, from Tk2.85 at the same time a year ago.

But Bangas' sales and profit were in the downtrend in recent years. According to its published financials for Q1, the net operating cash flow per share stood at Tk0.90, which was negative Tk0.55 in the same period of the previous fiscal year.

Its net asset value (NAV) per share stood at Tk21.08, which was Tk21.02 on 30 June 2021.

Bangas Limited, which got listed on stock exchanges in 1984, produces sweet and salted biscuits, as well as bread of Bangas' brand.

Bangas sells Grand Choice, Evening Touch, Lovely, Wonder, Glucose, and Lexus biscuits in the local market.

The company produces five tonnes of biscuits and five tonnes of bread every day.

In FY21, the company recommended a 4% cash dividend for its shareholders.

In this fiscal year, it made a profit of Tk17.54 lakh while its EPS stood at Tk0.23.

One year ago, the net profit was Tk46 lakh and the company paid a 5% cash dividend to its shareholders.