Berger Paints Bangladesh launches hand sanitisers
The company confirmed the matter in response to a Dhaka Stock Exchange query dated July 5, 2020
Berger Paints Bangladesh Ltd has confirmed that it has launched hand sanitisers under its existing brand - Mr Expert - owing to the spike in demand for hand sanitiser amid the coronavirus pandemic.
The company confirmed the matter in response to a Dhaka Stock Exchange query dated July 5, 2020.
Mr Expert Hand Sanitiser is one of the liquid-based products of the company that comes in a 250ml pack.
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According to the DSE website, the expected turnover of Berger Paints from Mr Expert hand sanitiser is Tk1 crore in the 2020-21 financial year, which is 0.044 percent of that in the previous year. Therefore, the impact of the product upon overall profitability of the company is very insignificant.
Berger Paints has recommended a 295 percent cash dividend for its shareholders in the 2019-20 financial year.
The company will hold its annual general meeting on July 28 where the dividend and the audited financial report will be finally approved.
The board of the company has also decided to invest Tk7.60 crore in ordinary shares of Berger Fosroc Ltd to fund the establishment of a factory.
Berger Fosroc Ltd is a joint venture between Berger and Fosroc International Ltd, that manufactures and sells chemicals used in constructions. Berger has a 50 percent share in the venture.
Berger's sales have increased on an average of 11 percent annually over the last 6 years, and it maintained the pace during the 2019-20 financial year.
During this period, the company's earnings per share grew by 18 percent to Tk52.22, riding on declining prices of raw materials in the international market.
In the fourth quarter of the 2019-20 financial year, the earnings per share of the company decreased by 2 percent due to the lack of sales amid the Covid-19 pandemic.
Berger paid its shareholders a 250 percent cash dividend in the 2018-19 financial year. In the previous financial year, it paid 200 percent cash and 100 percent stock dividends.
The company was listed on the stock market in 2006, with a paid-up capital of Tk46.37 crore.
The J&N Investments (Asia) Ltd holds 95 percent shares of Berger while institutional, foreign and general investors hold 2.45 percent, 1.14 percent and 1.41 percent respectively.
