Fu-Wang Ceramic sees lower profit in FY22

Fu-Wang Ceramic Industries Ltd reported a 32.39 per cent year-on-year decline in profit to Tk 3.13 crore in the last financial year.

The profit stood at Tk 4.63 crore in 2020-21.

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Thus, the company posted earnings per share of Tk 0.23 in 2021-22 against Tk 0.34 a year earlier.

"The EPS decreased due to the increase in the cost of goods sold and financial expenses," said the ceramics manufacturer.

The net asset value per share of Fu-Wang Ceramic was Tk 11.78 in the last financial year, slightly up from Tk 11.70 a year prior.

The net operating cash flow per share turned into a negative Tk 3.27 in 2021-22 from a positive Tk 0.51 in 2020-21.

The board of directors has recommended a 2 per cent cash dividend for the shareholders other than sponsors or directors for the last financial year.

Shares of Fu-Wang Ceramic Industries closed unchanged at Tk 17.40 on the Dhaka Stock Exchange yesterday.