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| Name | Symbol | Market | Type |
|---|---|---|---|
| Beximco Pharma | LSE:BXP | London | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 36.50 | 35.00 | 38.00 | 36.50 | 36.50 | 36.50 | 0 | 01:00:00 |
From Apr 2019 to Apr 2024
TIDMBXP
RNS Number : 1444P
Beximco Pharmaceuticals Ltd
15 November 2016
15 November, 2016
BEXIMCO PHARMACEUTICALS LTD.
Financial Results for the First Quarter Ended September 30, 2016
Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"; AIM Symbol: BXP), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its unaudited results for the three month period ended 30 September 2016. The information set out below has been released to the Dhaka and Chittagong Stock Exchanges in compliance with the requirements from the Bangladesh SEC.
The detail accounts can be viewed at the Company website: www.beximco-pharma.com.
For further information please visit www.beximco-pharma.com or enquire to:
Beximco Pharma
Nazmul Hassan MP, Managing Director
Tel: +880 2 58611001, ext.20080
Md. Asad Ullah, FCS, Executive Director & Company Secretary
Tel: +880 2 58611891, +880 2 58612040, ext.10140
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Sean Wyndham-Quin
Tel: +44 (0)20 3368 3551 / 3555
Daniel Stewart & Company plc (Broker)
David Lawman / Daphne Zhang
Tel: 020 7776 6550
FTI Consulting
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0)20 3727 1000
Notes to Editors
About Beximco Pharmaceuticals Limited
Founded in 1976 and based in Dhaka, Bangladesh, Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies. The Company operates from a 23 acre site in Dhaka and has manufacturing facilities for producing various drugs in different delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, prefilled syringes, injectables, nebuliser solutions and oral soluble films. Ensuring access to quality medicines is the powerful aspiration that motivates 3,500 employees of the Company.
Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of the US, Europe, Australia, Canada, GCC and Latin America, among others. The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in South East Asia, including Singapore, Taiwan, Malaysia, Indonesia, Philippines and Hong Kong; Africa, including South Africa, Mauritius, Kenya, Ghana, Ethiopia, Uganda and Nigeria; Central Asia, including Azerbaijan; Middle East, including Kuwait and Jordan; Pacific Island countries; Latin and Central American countries; Europe, including Austria, Germany and Romania; Australia and the US.
Beximco Pharmaceuticals Limited
Statement of Financial Position (Un-audited)
As at September 30, 2016
Hot Features
Premium
Taka '000
As at As at
September June 30,
30, 2016 2016
ASSETS
Non-Current Assets 22,731,750 22,620,900
----------- -----------
Property, Plant and Equipment-
Carrying Value 22,335,283 22,235,893
Intangible Assets 391,813 380,260
Investment in Shares 4,654 4,747
----------- -----------
Current Assets 8,601,641 8,528,008
----------- -----------
Inventories 2,750,889 2,770,332
Spares & Supplies 616,925 614,606
Accounts Receivable 1,832,551 1,680,607
Loans, Advances and Deposits 1,758,327 1,802,304
Short Term Investment 1,370,230 1,439,038
Cash and Cash Equivalents 272,719 221,121
----------- -----------
TOTAL ASSETS 31,333,391 31,148,908
=========== ===========
EQUITY AND LIABILITIES
Shareholders' Equity 23,548,926 23,059,412
----------- -----------
Issued Share Capital 3,862,442 3,862,442
Share Premium 5,269,475 5,269,475
Excess of Issue Price over
Face Value of GDRs 1,689,637 1,689,637
Capital Reserve on Merger 294,951 294,951
Revaluation Surplus 1,196,818 1,225,100
Fair Value Gain on Investment 1,202 1,295
Retained Earnings 11,234,401 10,716,512
----------- -----------
Non-Current Liabilities 5,057,890 5,106,928
----------- -----------
Long Term Borrowings-Net off
Current Maturity (Secured) 2,267,494 2,366,007
Liability for Gratuity and
WPPF & Welfare Funds 978,578 984,198
Deferred Tax Liability 1,811,818 1,756,723
----------- -----------
Current Liabilities and Provisions 2,726,575 2,982,568
----------- -----------
Short Term Borrowings (Secured) 958,553 1,109,644
Long Term Borrowings-Current
Maturity (Secured) 831,203 920,388
Creditors and Other Payables 418,721 453,829
Accrued Expenses 128,214 151,087
Dividend Payable 386 386
Income Tax Payable 389,498 347,234
----------- -----------
TOTAL EQUITY AND LIABILITIES 31,333,391 31,148,908
=========== ===========
Beximco Pharmaceuticals Limited
Statement of Profit or Loss and Other Comprehensive Income (Un-audited)
For the first quarter ended September 30, 2016
Taka '000
July-September July-September
2016 2015
Net Sales Revenue 3,765,598 3,385,704
Cost of Goods Sold (2,034,055) (1,873,900)
--------------- ---------------
Gross Profit 1,731,543 1,511,804
Operating Expenses (867,964) (795,524)
--------------- ---------------
Administrative Expenses (130,589) (120,554)
Selling, Marketing and Distribution
Expenses (737,375) (674,970)
--------------- ---------------
Profit from Operations 863,579 716,280
Other Income 44,374 67,552
Finance Cost (162,767) (183,303)
--------------- ---------------
Profit Before Contribution
to WPPF & Welfare Funds 745,186 600,529
Contribution to WPPF & Welfare
Funds (35,485) (28,597)
--------------- ---------------
Profit Before Tax 709,701 571,932
Income Tax Expenses (194,751) (151,357)
--------------- ---------------
Current Tax (164,999) (120,256)
Deferred Tax (29,752) (31,101)
--------------- ---------------
Profit After Tax 514,950 420,575
Other Comprehensive Income
Fair Value Gain/ (Loss) on
Investment in Listed Shares (93) (291)
--------------- ---------------
Total Comprehensive Income 514,857 420,284
=============== ===============
Earnings Per Share (EPS) Tk. 1.33 1.09
Number of Shares used to compute
EPS Nos. 386,244,234 386,244,234
------------------------------------- ------ --------------- ---------------
Beximco Pharmaceuticals Limited
Statement of Changes in Equity (Un-audited)
For the first quarter ended September 30, 2016
Taka '000
--------------------------------------------------------------------------------------------------------------------
As at September 30, 2016
--------------------------------------------------------------------------------------------------------------------
Share Share Excess Capital Revaluation Fair Retained Total
of Value
Capital Premium Issue Reserve Surplus Gain Earnings
Price /
over on (Loss)
Face on
Value Merger Investment
of GDRs
---------------- ---------- ---------- ---------- -------- ------------ ----------- ----------- ------------
Balance
as on
July 01,
2016 3,862,442 5,269,475 1,689,637 294,951 1,225,100 1,295 10,716,512 23,059,412
Total
Comprehensive
Income
for the
period
:
Profit
for the
Period - - - - - - 514,950 514,950
Other
Comprehensive
Income
/ (Loss) - - - - - (93) - (93)
Adjustment
for
Depreciation
on Revalued
Assets - - - - (2,939) - 2,939 -
Adjustment
for Deferred
Tax on
Revalued
Assets - - - - (25,343) - - (25,343)
---------------- ---------- ---------- ---------- -------- ------------ ----------- ----------- ------------
Balance
as on
September
30, 2016 3,862,442 5,269,475 1,689,637 294,951 1,196,818 1,202 11,234,401 23,548,926
---------------- ---------- ---------- ---------- -------- ------------ ----------- ----------- ------------
Number of Shares on September 30, 2016 386,244,234
Net Asset Value (NAV) Per Share on September
30, 2016 Tk. 60.97
----------------------------------------------------------------------------------------- ----------- ------------
Taka '000
--------------------------------------------------------------------------------------------------------------------
As at September 30, 2015
--------------------------------------------------------------------------------------------------------------------
Share Share Excess Capital Revaluation Fair Retained Total
of Value
Capital Premium Issue Reserve Surplus Gain Earnings
Price /
over on (Loss)
Face on
Value Merger Investment
of GDRs
----------------- ---------- ---------- ---------- -------- ------------ ----------- ---------- ------------
Balance
as on
July 01,
2015 3,862,442 5,269,475 1,689,637 294,951 1,262,732 2,421 9,150,539 21,532,197
Total
Comprehensive
Income
for the
period
:
Profit
for the
Period - - - - - - 420,575 420,575
Other
Comprehensive
Income
/ (Loss) - - - - - (291) - (291)
Adjustment
for
Depreciation
on Revalued
Assets - - - - (3,539) - 3,539 -
Adjustment
for Deferred
Tax on
Revalued
Assets - - - - 885 - - 885
----------------- ---------- ---------- ---------- -------- ------------ ----------- ---------- ------------
Balance
as on
September
30, 2015 3,862,442 5,269,475 1,689,637 294,951 1,260,078 2,130 9,574,653 21,953,366
----------------- ---------- ---------- ---------- -------- ------------ ----------- ---------- ------------
Number of Shares on September 30, 2015 386,244,234
Net Asset Value (NAV) Per Share on September
30, 2015 Tk. 56.84
------------------------------------------------------------------------------------------ ---------- ------------
Beximco Pharmaceuticals Limited
Statement of Cash Flows (Un-audited)
For the first quarter ended September 30, 2016
Taka '000
July-September July-September
2016 2015
Cash Flows from Operating Activities
:
Receipts from Customers and
Others 3,614,145 3,333,243
Payments to Suppliers and Employees (2,747,221) (2,311,631)
------------------ ---------------
Cash Generated from Operations 866,924 1,021,612
Interest Paid (162,767) (183,303)
Interest Received 43,386 67,830
Income Tax Paid (122,735) (100,344)
------------------ ---------------
Net Cash Generated from Operating
Activities 624,808 805,795
Cash Flows from Investing Activities
:
Acquisition of Property, Plant
and Equipment (289,899) (989,474)
Intangible Assets (14,496) (6,572)
Disposal of Property, Plant
and Equipment 1,166 350
Decrease in Short Term Investment 68,808 480,295
------------------ ---------------
Net Cash Used in Investing Activities (234,421) (515,401)
Cash Flows from Financing Activities
:
Net Increase/(Decrease) in Long
Term Borrowings (187,698) 391,100
Net Increase/(Decrease) in Short
Term Borrowings (151,091) (333,631)
Dividend Paid - (367,646)
------------------ ---------------
Net Cash Generated from Financing
Activities (338,789) (310,177)
------------------ ---------------
Increase / (Decrease) in Cash
and Cash Equivalents 51,598 (19,783)
Cash and Cash Equivalents at
Beginning of Period 221,121 194,952
------------------ ---------------
Cash and Cash Equivalents at
End of Period 272,719 175,169
================== ===============
Net Operating Cash Flow Per
Share Tk. 1.62 2.09
Number of Shares used to compute
Net Operating Cash Flow Per
Share 386,244,234 386,244,234
---------------------------------------- ---- ------------ ---------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFGMMMMNDMGVZM
(END) Dow Jones Newswires
November 15, 2016 02:00 ET (07:00 GMT)
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