Bangladesh Building Systems’ profit plunges 97%

Bangladesh Building Systems Ltd (BBS) reported more than 97 per cent decline in profit in the second quarter of the current financial year, owing to a fall in non-operating incomes.

The manufacturer of pre-engineered steel buildings posted earnings per share (EPS) of Tk 0.02 in October-December against Tk 0.93 in the same quarter of 2021-22.

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The EPS was Tk 0.04 in July-December of 2022-23, down more than 95 per cent from Tk 0.96 in the first half of 2021-22.

The EPS decreased due to a fall in non-operating incomes, said BBS in a filing on the Dhaka Stock Exchange (DSE).

The net operating cash flow per share (NOCFPS) was Tk 0.55 in the first half of FY23. It was Tk 0.56 in the same half of FY22.

"NOCFPS decreased due to an increase in payments to creditors," said the filing.

The net asset value per share of the company was Tk 17.40 on December 31 and Tk 15.70 on June 30, thanks a rise in the financial asset value of investment in associates, the filing added.

Shares of BBS were unchanged at Tk 21.60 on the DSE yesterday.