Half yearly profit shows strong outlook for listed companies

BSS, Dhaka :
Despite ups and downs in the stock market, listed companies have started disclosing their half-yearly (H1) accounts with robust increase in profitability, showing a strong outlook at least for the near term.
The record half-yearly earnings and strong outlook already drove stock price indices upward while prompting investors make fresh investment in the share market. Share transactions at the Dhaka Stock Exchange (DSE) also increased following the positive earning disclosure of the half-yearly and quarterly accounts by the listed companies.
A good number of companies disclosed their half-yearly income in the past one week when few other companies announced the income for the first quarter of 2014. Among the companies were British American Tobacco Company (BATBC), Grameen Phone, Lafarge Surma, Bata Shoe, Bay Leasing, Trust Bank, Islamic Finance, Union Capital and Social Islami Bank Limited (SIBL).
BATBC reported half-yearly accounts showing profit after tax of Taka 287.22 crore for the January-June period against Taka 206.33 crore for the same period of the previous year.
The leading cell phone operator of the country, Grameen Phone, reported after tax profit of Taka 106.01 crore for the first six months of this year. The earning was nearly double from Taka 510.38 crore of the first half yearly income in 2013.
Lafarge Surma reported net profit of Taka 140.22 crore in January-June period of this year against Taka 106.22 crore for the same period of the previous year.
Bata Shoe earned Taka 27.87 crore in the first six months of this year, which was Taka 24.33 crore for the same period in 2013.
Bay Leasing disclosed after tax profit of Taka 15.22 crore during January-June period against Taka 11.59 crore of first six months in 2013.
Trust Bank’s net profit for the past six months was Taka 38.64 crore, which was Taka 36.57 crore in the same period last year.
Islamic Finance reported half-yearly profit after tax of Taka 8.66 crore against Taka 5.96 crore for the same period of the previous year.
Union Capital in its half-yearly account for January-June period of 2014 reported net profit of Taka 4.02 crore, which was only Taka 68.6 lakh during the corresponding six months of 2013.