• Tuesday, Mar 09, 2021
  • Last Update : 04:37 am

Numbers are in and Beximco is indeed on a dream run

  • Published at 02:23 am January 25th, 2021
Beximco logo

The company is heading towards a record-setting year of profit

Beximco Group, it appears, has been the biggest beneficiary of the global coronavirus pandemic -- there are no two ways about it.

In just the first six months of its 2020-21 financial year, which runs from July to June, it has logged in more profit than it did in full years since 2012.

Between June and December of last year, the country’s largest private-sector employer’s profit more than doubled to Tk 276.2 crore from a year earlier. 

And in the second quarter of its 2020-21 financial year, its profit zipped 7.7 times year-on-year to Tk 155.7 crore.

The reason for the spectacular surge in profit was higher shipments of personal protective equipment (PPE) and garment products.

Beximco flagged off its PPE export with a batch of 6.5 million medical gowns custom made to the specifications of the US Federal Emergency Management Agency. 

The PPEs were manufactured by its textile and apparel division, which is one of the largest in Bangladesh and supplies to household names like Target, Zara, Michael Kors, PVH, Tommy Hilfiger and Calvin Klein.

“The PPEs, masks and garment products were in great demand,” Mohammad Asad Ullah, executive director and company secretary of Beximco, told Dhaka Tribune.

It is no surprise then that Beximco’s stock is on an incredible gaining streak: it gained a whopping 576 per cent over the past six months to close at Tk 88.9 on January 24, the last trading session.

The company, which was listed in 1989 at the Dhaka bourse, paid 5 per cent cash dividend to its shareholders for the 2019-20 financial year, when it logged in profit of Tk 44.6 crore.

But its performance in the first six months of the 2020-21 financial year suggests the shareholders can brace themselves for a massive payday.

77
Facebook 72
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail