Bangladesh Welding Electrodes Ltd. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
October 29, 2013
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Bangladesh Welding Electrodes Ltd. announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, revenue was BDT 91,184,560 compared to BDT 91,977,990 a year ago. Operating profit for the period was BDT 19,960,171 compared to BDT 30,705,764 a year ago. Profit before taxation was BDT 9,149,238 compared to BDT 20,362,951 a year ago. Net profit for the period was BDT 5,718,274 or BDT 0.14 per share compared to BDT 12,726,844 or BDT 0.33 per share a year ago.
For the year, revenue was BDT 298,988,729 compared to BDT 311,234,594 a year ago. Operating profit for the period was BDT 59,647,274 compared to BDT 62,733,929 a year ago. Profit before taxation was BDT 28,272,518 compared to BDT 33,133,181 a year ago. Net profit for the period was BDT 17,670,324 or BDT 0.43 per share compared to BDT 20,708,238 or BDT 0.53 per share a year ago. Net cash provided by operating activities was BDT 44,991,899 compared to BDT 40,171,450 a year ago. Additions to fixed assets were BDT 43,240,967 compared to BDT 14,630,674 a year ago.
Bangladesh Welding Electrodes Limited is a Bangladesh-based company that is engaged in the manufacturing and marketing of welding electrodes, industrial gases and other allied items. The Company supplies metal inert gas (MIG) welding wires, tungsten inert gas (TIG) welding wires, carbon di oxide gas (CO2) gas in cylinder, hospital gases, gas cutting equipment, arc welding transformers, plasma cutting machines, and spares and accessories. It offers products for bus body and fabrication jobs under the brand name, A-1. It provides products for making grill in rural areas under the name, FERROSEAL. It offers products for hull and keel of ocean-going ships under the brand name, Volta Marine. It provides products for post weld machining jobs under the name, B.WELD. It offers general purpose mild steel electrode under the name, CITO-BEST. It is also engaged in the manufacturing and marketing of OERLIKON brand welding electrodes such as Overcord-s, Fincord-M, Supercito, Universe and Citorail.