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RD Food to buy land for factory expansion

Staff Correspondent
12 Jun 2023 00:00:00 | Update: 11 Jun 2023 23:34:26
RD Food to buy land for factory expansion

With an aim for business expansion, the board of directors of Rangpur Dairy & Food Products Ltd (RD Food) has decided to purchase land property at a cost of Tk 4.06 crore.

The listed firm, as per a disclosure filed with the Dhaka Stock Exchange (DSE) on Sunday, will buy 203 decimals of land in Salaipur Baldipukur area of Rangpur district where it will build new factory line for the business expansion.

The price that the company mentioned in the disclosure, however, did not include the registration fees and other relevant expenses of the land to be purchased.

During the July-March period of the fiscal year 2022-23, the company’s revenue increased to Tk 88.13 crore from Tk 68.77 crore in the corresponding period a year ago.

The listed firm’s net profit in the first nine months of the current fiscal also rose by 4 per cent to Tk 10.81 crore.

According to company sources, in the third quarter of FY23, it saw a 13.46 per cent year-on-year growth in net profit to Tk 5.14 crore, while its revenue jumped by 30 per cent to Tk 33.40 crore year-on-year.

RD Foods is involved in the production of dairy products as well as non-dairy products. It usually sources raw milk from rural areas in the country’s northern parts, and later processes them to manufacture dairy products.

Its dairy products include UHT fresh milk, chocolate milk, mango milk, strawberry milk, banana milk, and ghee.

While, the non-dairy products include drinks, candy, toast biscuits, fried dal, Bar-B-Q chanachur, spicy chanachur, noodles, cup jelly, and potato crackers.