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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 | 19,000 | 01:00:00 |
From Apr 2019 to Apr 2024
TIDMBXP
RNS Number : 3409W
Beximco Pharmaceuticals Ltd
14 November 2017
14 November 2017
BEXIMCO PHARMACEUTICALS LTD.
Financial Results for the First Quarter Ended 30 September 2017
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 2017. 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 / Andrew Emmott
Tel: +44 (0)20 3368 3551 / 3555
Northland Capital Partners Limited (Broker)
Gerry Beaney / Tom Price
Tel: +44 (0)20 3861 6625
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, oral soluble films etc. 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 USA, 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, Thailand, 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 North America, including the USA and Canada.
Beximco Pharmaceuticals Limited
Statement of Financial Position (Un-audited)
As at 30 September 2017
Hot Features
Premium
Taka '000
As at As at
30 September 30 June
2017 2017
ASSESTS
Non-Current Assets 25,425,973 24,953,317
-------------- -----------
Property, Plant and Equipment-
Carrying Value 24,905,140 24,472,468
Intangible Assets 503,323 462,969
Investment in Shares 17,510 17,880
-------------- -----------
Current Assets 9,042,705 9,130,816
-------------- -----------
Inventories 3,645,626 3,468,089
Spares & Supplies 635,638 636,103
Accounts Receivable 2,170,303 2,167,340
Loans, Advances and Deposits 1,783,584 1,697,679
Short Term Investment 611,992 886,577
Cash and Cash Equivalents 195,562 275,028
-------------- -----------
TOTAL ASSETS 34,468,678 34,084,133
-------------- -----------
EQUITY AND LIABILITIES
Shareholders' Equity 25,694,062 25,072,426
-------------- -----------
Issued Share Capital 4,055,564 4,055,564
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 1,165,118 1,190,204
Unrealised Gain/(Loss) 3,505 3,875
Retained Earnings 13,215,812 12,568,720
-------------- -----------
Non-Current Liabilities 5,698,801 5,605,667
-------------- -----------
Long Term Borrowings-Net
off Current Maturity (Secured) 2,700,192 2,635,907
Liability for Gratuity and
WPPF & Welfare Funds 1,137,581 1,117,094
Deferred Tax Liability 1,861,028 1,852,666
-------------- -----------
Current Liabilities and
Provisions 3,075,815 3,406,040
-------------- -----------
Short Term Borrowings (Secured) 812,700 1,239,758
Long Term Borrowings-Current
Maturity (Secured) 772,162 715,790
Creditors and Other Payables 752,120 783,839
Accrued Expenses 264,204 245,375
Dividend Payable 353 353
Income Tax Payable 474,276 420,925
-------------- -----------
TOTAL EQUITY AND LIABILITIES 34,468,678 34,084,133
-------------- -----------
Beximco Pharmaceuticals Limited
Statement of Profit or Loss and Other Comprehensive Income (Un-audited)
For the first quarter ended 30 September 2017
Taka '000
July - September July - September
2017 2016
Net Sales Revenue 4,278,675 3,765,598
Cost of Goods Sold (2,304,485) (2,034,055)
------------ -----------------
Gross Profit 1,974,190 1,731,543
Operating Expenses (1,015,776) (867,964)
------------ -----------------
Administrative Expenses (143,511) (130,589)
Selling, Marketing and Distribution
Expenses (872,265) (737,375)
------------ -----------------
Profit from Operations 958,414 863,579
Other Income 22,411 44,374
Finance Cost (106,170) (162,767)
------------ -----------------
Profit Before Contribution
to WPPF & Welfare Funds 874,655 745,186
Contribution to WPPF & Welfare
Funds (41,650) (35,485)
------------ -----------------
Profit Before Tax 833,005 709,701
Income Tax Expenses (188,509) (194,751)
------------ -----------------
Current Tax (202,637) (164,999)
Deferred Tax 14,128 (29,752)
------------ -----------------
Profit After Tax 644,496 514,950
Other Comprehensive Income-Unrealised
Gain/(Loss) (370) (93)
Total Comprehensive Income 644,126 514,857
------------ -----------------
Earnings Per Share (EPS)
/ Adjusted EPS Tk. 1.59 1.27
Number of Shares used to
compute EPS Nos. 405,556,445 405,556,445
--------------------------------------- ------- ------------ -----------------
Beximco Pharmaceuticals Limited
Statement of Changes in Equity (Un-audited)
For the first quarter ended 30 September 2017
As at 30 September 2017 Taka '000
---------------------------------------------------------------------------- ---------------------------------------
Share Share Excess Capital Revaluation Un-realised Retained Total
Capital Premium of Issue Reserve Surplus Gain Earnings
Price on / (Loss)
over Merger
Face
Value
of GDRs
--------------- ---------- ---------- ---------- --------- ------------ ------------ ----------- ------------
Balance
as on 1
July 2017 4,055,564 5,269,475 1,689,637 294,951 1,190,204 3,875 12,568,720 25,072,426
Total
Comprehensive
Income for
the period:
Profit for
the Period - - - - - - 644,496 644,496
Other
Comprehensive
Income /
(Loss) - - - - - (370) - (370)
Adjustment
for
Depreciation
on Revalued
Assets - - - - (2,596) - 2,596 -
Adjustment
for Deferred
Tax on
Revalued
Assets - - - - (22,490) - - (22,490)
Balance
as on 30
September
2017 4,055,564 5,269,475 1,689,637 294,951 1,165,118 3,505 13,215,812 25,694,062
--------------- ---------- ---------- ---------- --------- ------------ ------------ ----------- ------------
Number of
Shares on
30 September
2017 405,556,445
Net Asset
Value (NAV)
Per Share
on 30
September
2017 Tk. 63.36
--------------- ---------- ---------- ---------- --------- ------------ ------------ ----------- ------------
As at 30 September 2016 Taka '000
---------------------------------------------------------------------------- ---------------------------------------
Share Share Excess Capital Revaluation Un-realised Retained Total
Capital Premium of Issue Reserve Surplus Gain Earnings
Price on / (Loss)
over Merger
Face
Value
of GDRs
--------------- ---------- ---------- ---------- --------- ------------ ------------ ----------- ------------
Balance
as on 1
July 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 30
September
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
30 September
2016 386,244,234
Net Asset
Value (NAV)
Per Share
on 30
September
2016 Tk. 60.97
--------------- ---------- ---------- ---------- --------- ------------ ------------ ----------- ------------
Beximco Pharmaceuticals Limited
Statement of Cash Flows (Un-audited)
For the first quarter ended 30 September 2017
Taka '000
July - September July - September
2017 2016
Cash Flows from Operating
Activities:
Receipts from Customers
and Others 4,278,700 3,614,145
Payments to Suppliers and
Employees (3,414,603) (2,747,221)
----------------- -----------------
Cash Generated from Operations 864,097 866,924
Interest Paid (106,170) (162,767)
Interest Received 25,636 43,386
Income Tax Paid (149,286) (122,735)
----------------- -----------------
Net Cash Generated from
Operating Activities 634,277 624,808
Cash Flows from Investing
Activities:
Acquisition of Property,
Plant and Equipment (626,542) (289,899)
Intangible Assets (49,457) (14,496)
Disposal of Property, Plant
and Equipment 571 1,166
Decrease in Short Term Investment 274,585 68,808
----------------- -----------------
Net Cash Used in Investing
Activities (400,843) (234,421)
Cash Flows from Financing
Activities:
Net Increase/(Decrease)
in Long Term Borrowings 114,158 (187,698)
Net Increase/(Decrease)
in Short Term Borrowings (427,058) (151,091)
----------------- -----------------
Net Cash Generated from
Financing Activities (312,900) (338,789)
----------------- -----------------
Increase / (Decrease) in
Cash and Cash Equivalents (79,466) 51,598
Cash and Cash Equivalents
at Beginning of Period 275,028 221,121
----------------- -----------------
Cash and Cash Equivalents
at End of Period 195,562 272,719
----------------- -----------------
Net Operating Cash Flow
Per Share Tk. 1.56 1.62
Number of Shares used to
compute Net Operating Cash
Flow Per Share 405,556,445 386,244,234
------------------------------------------ ----------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFDMMMMFFZGNZM
(END) Dow Jones Newswires
November 14, 2017 02:00 ET (07:00 GMT)
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