Bangas Limited Reports Unaudited Earnings Results for the Second Quarter and Half Year Ended December 31, 2016
January 29, 2017
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Bangas Limited reported unaudited earnings results for the second quarter and half year ended December 31, 2016. For the quarter, the company reported turnover of BDT 26,049,913 compared to BDT 27,335,007 for the same period a year ago. Operating loss was BDT 881,187 compared to profit of BDT 1,644,196 last year. Net loss before WPPF was BDT 881,187 compared to profit of BDT 1,644,196 last year. Net loss before tax was BDT 881,187 compared to profit of BDT 1,565,901 last year. Net loss after tax was BDT 881,187 or BDT 0.14 per share compared to profit of BDT 1,174,426 or BDT 0.19 per share last year.
For the half year, the company reported turnover of BDT 53,336,660 compared to BDT 62,352,152 for the same period a year ago. Operating loss was BDT 1,882,578 compared to profit of BDT 8,458,533 last year. Net loss before WPPF was BDT 1,882,578 compared to profit of BDT 8,458,533 last year. Net loss before tax was BDT 1,882,578 compared to profit of BDT 8,055,746 last year. Net loss after tax was BDT 1,882,578 or BDT 0.30 per share compared to profit of BDT 6,041,809 or BDT 0.96 per share last year. Net asset value was BDT 22.46 per share as on December 31, 2016. Cash flows from operating activities were BDT 14,172,056 compared to cash flows used in operating activities of BDT 5,909,581 last year. Net operating cash flow per share was BDT 2.24 compared to negative BDT 0.94 last year.
Bangas Limited is a Bangladesh-based company, which is engaged in manufacturing bread and biscuits (sweet and salted). The principal activity of the Company is to carry on automatic and semi-automatic bread and biscuit manufacturing and deal in bread, flour, biscuits, pastry, cakes, confectionery, and other farinaceous food products. It sells its products to both local and to customers abroad. The Companyâs products include Grand Choice, Evening Touch, Wonder, Mango Cream, Pineapple Cream, Choco Cream, Fruity Cream, Treat, and Rainbow Cream. The Company exports its products to Bhutan, Singapore, Nigeria, Oman, Canada, United Kingdom, United States of America, and Australia.