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Sea Pearl Beach Resort & Spa Limited, a publicly traded company, has returned to profit after a year marred with losses due to restrictions inflicted by the Covid-19 pandemic.
The company reported a profit of Tk 7.39 crore for the year ended on June 30. Its earnings per share (EPS) stood at Tk 0.61 in the recently finished year, which was negative Tk 0.09 in the previous year.
Talking to The Business Post, Md Azaharul Mamun, company secretary of Sea Pear Beach Resort, attributed the success to the higher number of tourists they received in the first three months of current year.
“We got a good number of guests in the first three months of the current year as there were no restrictions on people's movement despite the Covid pandemic,” he said.
Meanwhile, the board of directors of the company recommended 1 per cent cash dividend for the year ended on June 30.
The final approval of the dividend is expected to come during the annual general meeting (AGM) scheduled to be held on November 13.
The record date is set on September 16, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.
The company’s net operating cash flow per share (NOCFPS) was Tk 2.64 for the year end June 30, 2021 as against Tk 2.34 in the previous year.
Its net asset value per share (NAV) per share was Tk 10.63 for the year ended on June 30, 2021, against Tk 10.06 in the previous year.
The Sea Pearl Beach, the owner of Royal Tulip Sea Pearl Beach Resort & Spa in Cox's Bazar, is a luxury hotel which started commercial operation in 2015.
The stock market regulator BSEC allowed the company in February 2019 to raise Tk 15 crore in the fixed price method through initial public offerings.
The company belongs to “B” category at the DSE. Its paid-up capital is Tk 120 crore
Each share of the company was traded at the DSE at Tk 81.80 on Monday.
