Beach Hatchery minimises loss in Q1

Beach Hatchery, an agro farm, has minimised its year-on-year losses in the first quarter of the current fiscal year riding on the performance of its commercial fish farming this year.

In the July-September quarter, its loss per share decreased to Tk0.05, which was Tk0.07 in the corresponding period of the previous fiscal year, according to disclosures made on stock exchanges on Wednesday.

The firm, which got listed on the capital market in 2002, is out of production since 2016 when the government acquired the land of its factory to construct the marine drive road.

Beach Hatchery was engaged in producing shrimp fries, which is considered as a backward linkage sector of the 100% export-oriented shrimp processing industry. 

Due to the production halt, the company has been incurring losses for years.

To sustain the business, the company planned to cultivate fish in Mymensingh.

Company Secretary Md Nur Islam told The Business Standard, "The commercial fish farming in the new project has already started. Depending on the new project, the company hopes to overcome the bad situation."

Beach Hatchery started its business in 1997 with an annual production capacity of 600 million shrimp fries.