Listed food firms bounce back in Q1 after tough year

The listed food manufacturing companies are gradually wiping away pandemic losses through an improved performance witnessed in the first three months of the current fiscal year.

Of the 10 listed food makers, five cut a sorry figure in the last financial year, but are back in the game now as their earnings per share (EPS) went up, according to the Dhaka Stock Exchange (DSE).

Seven listed companies have so far disclosed their July-Sep (Q1) financial reports. Of them, the earnings of five firms have increased while the remaining two declined.

Sources in the companies say the impact of pandemic is much lower this year compared to that in the previous year.

Besides, the supply situation has not been as bad as it was last year – all these helping the companies do well.

RD Food: In terms of growth rate of EPS, RD Food (Rangpur Dairy & Food Products Ltd) tops the list of first quarter.

Its EPS rose by 156 per cent and profit around Tk 3 crore against Tk 1.23 crore seen in the same period a year ago.

In September, the company announced that it would spend Tk 7 crore on the import of machinery to produce four new products.

The company also decided to launch a new brand name by December which will include 12 products. The company’s main product is UHT (Ultra High Temperature) process milk.

Golden Harvest

Golden Harvest Agro Industries Ltd is one of the top consumer food producers. Its profit increased for July-September of FY22, with EPS witnessing around 106 per cent rise in Q1.

National Tea

National Tea Company Ltd has been a loss-making company from FY20, but it saw profit in the first quarter of this financial year.

The company’s filing with the Dhaka Stock Exchange (DSE) shows that its negative EPS decreased in the last fiscal due to hike in the average tea price by Tk 31.49 per kg in Chattogram auction market.

AMCL (PRAN)

The leading consumer goods producer turned around in the first quarter. In July-September period, its EPS was Tk 2.16 against Tk 1.95 observed during the same period in the previous fiscal. Its EPS increased by 10 per cent despite less profit in the last financial year when its earnings per share declined from Tk 5.70 to Tk 5.37.

Meghna Condensed Milk

Meghna Condensed Milk Industries is another loss-making listed company, which had been incurring losses over the years. The ‘Z’ category company, however, could minimise loss in the last fiscal. Its EPS was negative Tk 1.96, which was negative Tk 2.04 earlier.

Olympic

Olympic Industries is well-known for its biscuit brand named Olympic. The company’s profit increased in the last financial year, but declined in the first quarter of current fiscal. Its reported EPS was Tk 20.6 for July-September period against Tk 2.85 for the same period a year ago.

Rahima Food

The profit of Rahima Food Corporation Limited declined in the first quarter. Its EPS was Tk 0.04 for July-September against Tk 0.06 for the same period in the previous financial year. Rahima Food was listed in the capital market in 1997.