Paper Processing’s profit surges 244pc

Paper Processing & Packaging Limited's profit surged more than 244 per cent year-on-year in the financial year that ended on June 30. 

The company reported earnings per share of Tk 4.62 for 2021-22, which was Tk 1.34 in 2020-21.

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EPS went up due to an increase in revenue and profit this year compared to the previous year, said the company in a filing on the Dhaka bourse yesterday.

Net asset value per share rose to Tk 31.59 from Tk 27.97 but the net operating cash flow per share slipped to Tk 0.95 from Tk 2.76 a year earlier.

The board of Paper Processing recommended an 8 per cent cash and a 7 per cent stock dividend for 2021-22. The stock dividend was declared for the utilisation of the fund as working capital, it said.

Shares of Paper Processing closed 1.52 per cent lower on the DSE yesterday.