Two Magura Group concerns – listed on the stock exchanges – have reported big jumps in their profits in the fiscal 2021-22 as revenue grew well compared to the previous year.
Bangladesh Monospool Paper Manufacturing Company Limited and Bangladesh Paper Processing and Packaging Limited have reported 345% and 245% year-on-year profit growth, respectively.
On Thursday, Monospool Paper's shares soared by 19% or Tk37 each as there was no price limit for the day of the corporate declaration.
While Paper Processing share prices fell by 1.52% or Tk3.6 each.
Monospool's profit growth
Bangladesh Monospool Paper, which returned from the over-the-counter market to the mainboard last year, has seen a big jump in profit in the fiscal 2021-22 compared to the previous year.
In FY22, its net profit after tax surged to Tk5.12 crore, which was Tk1.15 crore in the previous fiscal year.
The company has recommended 10% cash and 10% stock dividends for its shareholders.
The stock dividend is subject to the approval of the stock market regulator.
It said a stock dividend has been declared for the utilisation of the fund as working capital.
The company will hold the annual general meeting (AGM) on 7 November.
Paper Processing recommends 8% cash, 7% stock dividends
Bangladesh Paper Processing and Packaging made a profit of Tk4.82 crore in FY22.
The earnings per share (EPS) rose to Tk4.62, which was Tk1.34 in FY21.
The board of directors has recommended an 8% cash and 7% stock dividend for its shareholders.
The stock dividend is subject to approval from the stock market regulator.
It also declared a stock dividend for the utilisation of the fund as working capital.
The company will hold the AGM on 8 November through a digital platform.