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Fu-Wang Ceramic Industries, a ceramic sector company, earnings per share (EPS) fell 33 per cent in the third quarter compared to the previous quarter.
Its third quarter (Q3) EPS was Tk 0.06 for January-March 2022, down from Tk 0.09 for October-December 2021, said the company in a filing with the Dhaka Stock Exchange on Monday.
“Soaring raw materials in the international market and operating costs have affected the earnings,” Fu-Wang Ceramic Industries Company Secretary A Halim Talukder told The Business Post.
Fu-Wang Ceramics’ sales grew 14 per cent to Tk 14.72 crore in the third quarter, which was Tk 12.86 crore in the same period last year. Its gross profit was Tk 7.02 crore, up from Tk 6.14 crore during the period.
Despite sound growth in sales and income in Q3, the company spent Tk 8.48 crore on operation, Tk 3.32 crore up from Tk 5.16 crore in the same period a year earlier.
The company total turnover stood at Tk 21.75 crore in the third quarter and the after-tax profit was Tk 80 lakh while turnover was Tk 19 crore and the profit after tax was Tk 69 lakh in the same period of the last year.
Fu-Wang Ceramic Industries owns and operates two industrial units for the manufacturing of various types and sizes of floor tiles and glazed wall tiles, and sales thereof.
Earlier in July 2021, the Bangladesh Securities and Exchange Commission (BSEC) restructured the board of directors of Fu Wang Food Ltd. The regulator nominated five independent directors for the company.
As of May 31, 2022, the sponsors and directors jointly held 27.43 per cent shares of the paid-up capital of the company and thus failed to comply with the 30 per cent shareholding rules.
On the other hand, the institutions hold 8.69 per cent shares, foreign investors hold 0.40 per cent shares and the general public holds 63.48 per cent shares of the company. The company got listed on stock exchange in 2000.
