ACI entering bakery business with British firm  

Infographics: TBS

Bangladeshi conglomerate ACI is set to establish a joint-venture company, Pladis ACI Bangladesh Limited, in collaboration with London-based United Biscuits Topco. 

This venture aims to manufacture biscuits and supply them to global customers under the Pladis brand. 

ACI plans to invest Tk50 crore within two years for a 49% shareholding and has received approval from relevant regulators. 

ACI's shares closed at Tk260.20 each on the Dhaka Stock Exchange.

ACI, which currently has four joint venture companies with foreign partners, operates in pharmaceuticals, consumer brands, and animal health products, along with marketing fertilisers, seeds, and other agricultural items. 

The "ACI retail chain" is the largest in Bangladesh, with 396 SHWAPNO outlets, including 137 newly opened outlets in 2022-23 fiscal year alone, attracting over 80,000 customers daily.

In the first quarter of the current fiscal year, ACI achieved positive financial results. Consolidated revenue for July-September increased by 13% to Tk3,040 crore from Tk2,678.40 crore the previous year. 

The consolidated gross profit also rose by 20% to Tk732 crore compared to Tk611.42 crore a year ago. Consequently, the net loss decreased by 24% to Tk14.11 crore, with a per-share loss of Tk2.07 and a net asset value per share of Tk111.09 as of September 2023.

ACI Limited has recommended a 40% cash dividend for shareholders for fiscal 2022-23