RD Food to launch new products

Rangpur Dairy & Food Products Ltd (RD Food) will launch four new products on September 25 and 12 more products by December this year under the new brand name.

For setting up the plants to produce new products, the company will invest Tk7 crore for the purchase of new machinery, said the company in a fling with the Dhaka Stock Exchange on Thursday.

The bank will finance 50 per cent of the project while the rest 50 per cent will be provided by the company from its sources, it said.

The company is expected to earn Tk1.10 crore in revenue per year from the new project, said RD Food.

It also said its revenue will rise from the existing 15 per cent to 18 per cent and its profit may increase from 12 per cent to 15 per cent after launching of the new products.

On Thursday, share price of the company increased over 2.05 per cent to Tk54.70 on the DSE.

The company reported Tk3.85 crore in profit in the first nine months (July-March) of the last financial year, up 39 per cent compared to the same period a year ago.

Currently, it produces two types of products--dairy and non-dairy. Its dairy products included Ultra High-Temperature fresh milk and chocolate, mango, strawberry, banana flavoured milk and ghee.

The non-dairy products included drinks, candy, toast biscuit, fried dal, chanachur, noodles, cup jelly and chips. Listed in 2011, RD Food paid 2 per cent cash and 2 per cent stock dividends in FY20.

RD Food was incorporated in March 2004 and converted to Public Limited Company in June 2010.