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Beximco Pharmaceuticals Ltd - Dhaka-based generic pharmaceutical products and active pharmaceutical ingredients maker - In the financial year that ended June 30, books pretax profit of BDT6.69 billion, around £57.6 million, up 4.9% from BDT6.37 billion a year before. Annual revenue climbs 18% to BDT34.67 billion from BDT29.49 billion, with domestic sales rising by 21% and export sales by 14%. Declares BDT3.5 per share dividend.
Managing Director Nazmul Hassan says: "In the current challenging macro environment, we are delighted to be able to report another period of revenue growth. While we have seen the economic downturn have an adverse impact on some of our export markets, this has been more than offset by our domestic performance."
Looking to the new financial year, Hassan says Beximco is seeing the impact of "numerous" headwinds relating to the war in Ukraine, supply chain disruptions, and a record depreciation of the Bangladesh taka.
"While we expect these issues to have an impact on Q1 and beyond, we remain committed to expanding our businesses, seeking operational efficiencies and delivering on our strategy to maximise the potential of Beximco Pharma," he adds.
Company also notes the Bangladesh government is unlikely to order more Covid-19 vaccine doses for the foreseeable future, due to broad available of vaccines in the country. Beximco has an agreement to distribute the Oxford University-AstraZeneca PLC vaccine in Bangladesh.
Current stock price: 63.50 pence, down 5.9% in London on Tuesday afternoon
12-month change: down 37%
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