Olympic biscuit sales up by 14% in 3 quarters of FY20
Its net profit also increased by 11 percent compared to the three quarters of the previous year
Olympic Industries Limited, the leading biscuit manufacturer in the country, has reported a 14 percent jump in sales in the three quarters of the 2019-20 financial year.
But in the third quarter, sales growth was slow due to the countrywide general holidays at the end of March to curb coronavirus spread.
According to the unaudited financial statement of the three quarters – which was disclosed on Monday evening – the company reported biscuit sales of Tk1,196.11 crore, an increase from Tk1,052 crore in the same period of the previous fiscal year.
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Its net profit also increased by 11 percent compared to the three quarters of the previous year, and stood at Tk154.49 crore. Its earnings per share was Tk7.73.
Meanwhile, in the third quarter of the current financial year, the total sales of the company stood at Tk395.67 crore, which is 11 percent higher than that of the previous year. At that time, net profit was Tk49.40 crore, and earnings per share was Tk2.47.
The company gave a 50 percent cash dividend to its shareholders in the last fiscal year.
Olympic's shares closed at Tk150.20 each on Monday on the Dhaka Stock Exchange. Share price reached the highest, Tk241.80 per share, within the last year.
The company entered the stock market in 1989.
Its current paid-up capital is Tk199.93 crore.
Sponsor directors hold 27.77 percent of shares of the company while institutional, foreign and general investors have 16.78 percent, 40.02 percent and 15.43 percent respectively.
