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Beach Hatchery started to recover losses after resuming production around six months ago.
The Cox’s Bazar-based fish producer managed to reduce losses in the first quarter (July-Sep) of current financial year, said the company in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.
It reported earnings per share (EPS) negative Tk 0.05 for July-September 2021 as against negative Tk 0.07 for the same period of the last financial year.
An executive of Beach Hatchery said the company suffered losses due to the production suspension for a long period. “Since June this year, we have resumed production. Now the company is producing white fish of native species…no shrimp.”
The company’s production halted in April 2016.
On June 28 this year, the company’s board decided to start production of white fish (Telapia, Koi, Pangsh and Pabda) using the intensive culture method, a modern technology of producing fish.
The initial production capacity is around 105 tonnes per year, according to the company’s disclosure.
The production capacity will be gradually increased organically using the existing facilities. The company's share price has been rising since October, three months after the announcement of production.
Its share increased 80 per cent to Tk 32.4 from October 19 to December 16.
A few years back, the market regulator BSEC had fined two directors of the company and two individual investors for allegedly manipulating shares. The total amount of penalty was around Tk 70 lakh.
Beach Hatchery Limited was listed on the capital market in 2002.
