Sea Pearl Beach Resort and Spa Limited, the owner company of Cox’s Bazar-based luxury hotel Royal Tulip, posted 42.2 crores in net profit in the first half of the fiscal year 2022-23, which was almost five times higher than the profit of Tk 8.6 crore in H1 last fiscal.
The company’s extraordinary profit growth was driven by the country’s booming hotel industry, which returned to normalcy in the first quarter of the current fiscal year after a severe pandemic shock.
The publicly traded company’s basic earnings per share (EPS) rose by 152 per cent to Tk 3.50 for the July-December period of FY23, which was Tk 0.72 for the same period last year.
The hospitality management firm gave a 15 per cent cash dividend to its general shareholders for FY22.
Its net asset value (NAV) per share stood at Tk 14.17 till December 2022.
The company posted an operating profit of Tk 42 crore in FY22, up Tk 10.14 crore from that in the previous year.
Starting the journey on 17 September 2015 on 15 acres of land in Inani of Cox’s Bazar, the 5-star category resort has 493 rooms and suites.
After its inception, it has become the favorite place for tourists of Bangladesh. All the facilities have now made it the world’s best seaside resort, according to the company.
Following an investment of Tk 8.5 crore in the purchase of two cruise ships, the company also launched a new business offering cruise ship tour packages on the Khulna-Sundarban-Khulna route.
Sea Pearl shares closed at Tk 280.10 per share on the trading floor of the Dhaka Stock Exchange (DSE) on Monday.
The resort’s exclusive spa previously took home the prize for 2022’s Best Luxury Health and Fitness Spa, and its Group General Manager Azeem Shah was named the year's Best General Manager.
