It is a broadly described annual report of Malek Spinning Mills Limited in the year of 2016-2017. The net profit of the company for the year 2016-2017 stood at Tk. 117,685,842 as against Tk. 171,969,153 during the previous year, as a result, net profit (after tax)decline of 31.57% over the previous year. During the year sales revenue of the company had decreased by 1.81% from Tk. 2,587,146,675 in 2015-16 to Tk. 2,540,411,247 in 2016-17 due to the reduction of selling price in the face of stiff competition and consequent fall in prices in international market. The cost of goods sold was 88.80% during the year as compared to 86.99% during the previous year, as the significant increase of 1.81%. Gross Profit earned during the year amounted to Tk. 284.63 million as against Tk. 336.61 million during the previous year. As a result, Net Profit percentage had decreased by 2.02% on sales over the previous year (6.65% of sales in the year 2015-16 & 4.63% of sales in the year 2016-2017).
The Board of Directors has recommended for the declaration of a Cash Dividend @ 10% i.e. Tk. 1.00 (one) per share of Tk. 10.00 each for ordinary shares held by the shareholders as on the Record Date. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
More Annual Report of Malek Spinning Mills Limited:
- Annual Report 2010 of Malek Spinning Mills Limited
- Annual Report 2011 of Malek Spinning Mills Limited
- Annual Report 2012 of Malek Spinning Mills Limited
- Annual Report 2013 of Malek Spinning Mills Limited
- Annual Report 2014 of Malek Spinning Mills Limited
- Annual Report 2017 of Malek Spinning Mills Limited