Crown Cement returns to profit

Crown Cement PLC made a profit of Tk 61.03 crore in the financial year that ended on June 30.  

The cement manufacturer incurred a loss of Tk 22.87 crore in the previous financial year of 2021-22.

Thus, its earnings per share (EPS) surged to Tk 4.11 in 2022-23 from a negative EPS of Tk 1.54 in FY22, according to the financial statements.

The EPS increased thanks to sales growth and sales price increase, said Crown Cement in a filing on the Dhaka Stock Exchange.

The net asset value per share improved to Tk 52.22 in FY23 from Tk 49.18 in FY22.

The net operating cash flow per share dropped to Tk 11.43 from Tk 21.83 a year earlier due to an increase in supplier's payments and higher value of inventory resulting from the exchange rate fluctuation and increase in receivables.

The board of Crown Cement announced a 20 percent cash dividend for FY23. Its shares closed unchanged at Tk 74.40 on the DSE yesterday.