Sea Pearl Beach Resort & Spa Limited – a five-star resort and hotel in Bangladesh – has decided to enter the cruise ship business.
The company expects to kick off the business in October this year. It has been estimated that the new business will earn a revenue of Tk7.15 crore annually.
On Thursday, the company published the information on local stock exchanges.
Due to the new decision, its shares price rose 5.12% to Tk45.20 each, from Tk43 on Wednesday.
As per the decision, initially, the company will purchase two cruise ships for Tk8.50 crore.
The passenger cruise ships will operate on the Khulna-Sundarbans-Khulna route based on the tour package programmes.
In fiscal 2020-21, Sea Pearl Beach Resort & Spa Limited earned revenue of Tk64.39 crore.
The revenue is 40% higher than the previous year and the company reported a net profit of Tk7.39 crore.
It recommended a 1% cash dividend for its shareholders.
In fiscal 2019-20, the company earned a revenue of Tk45.85 crore and incurred a loss of Tk1.03 crore due to the Covid-19 pandemic.
As it fell into losses, it could not pay any dividend to its shareholders.
Sea Pearl Beach Resort & Spa Limited was listed on the travel and leisure sector of the stock exchanges in 2019.