MI Cement posts Tk13.21 crore loss in FY2019-20
As the company incurred losses, it declared a 10 percent cash dividend from retained earnings
MI Cement Factory Ltd, widely known as Crown Cement, incurred losses worth Tk Tk13.21 crore in FY2019-20 even after returning to profit in the last two quarters (January-June) amid the Covid-19 impact.
According to the financial statement, in April-June period, the listed company made a profit worth Tk10 crore, after securing Tk4.31 crore profit in the previous quarter.
However, prior to its return to profit, during the first six months of FY2019-20, Crown Cements incurred a big loss worth Tk28 crore and EPS was negative at Tk1.60.
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Finally, the company's net loss in FY2019-20 stood at Tk13.21 crore, with earnings per share (EPS) turning negative to Tk0.89.
The company was listed with the Dhaka Stock Exchange and Chittagong Stock Exchange in 2011, with Tk111 issue price per share. And on Sunday, the last trading price per share was Tk43.80.
At the end of the financial year (FY2019-20), the company's net asset value per share (NAVPS) stood at Tk46.38, which was Tk48.22 in the previous fiscal.
As the company incurred losses, it declared a 10 percent cash dividend from retained earnings.
However, in the 2018-19 fiscal, the company's profit was Tk25.11 crore and EPS was Tk1.69.
