Beximco Pharma Discussion Threads

[outsizeclothes.com] 01/5/2024 11:38

Looking at these results - there's potential for a 4 Taka payout this year. That's still 2.9p, or 2p+ after Bangladeshi tax.
And an after tax yield of 6%+.

[outsizeclothes.com] 30/4/2024 16:20

We're flying along here in Taka terms. The only headwind is Taka weakness, but eventually that's bound to show up in stronger exports.

Q3 Financial Results



Beximco Pharmaceuticals Limited ("Beximco Pharma", "BPL" or "the Company"; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its unaudited financial results for the third quarter and nine months ended 31 March 2024.

Financial highlights (Consolidated)

Nine months ended 31 March 2024

· Net revenue increased 13.1% to Bangladesh Taka ("BDT") 33,050.9m / £239.1m (2022-23: BDT 29,233.0m / £ 228.2m)

· Profit after tax increased 22.7% to BDT 4,374.7m / £31.6m (2022-23: BDT 3,565.8.m / £27.8m)



Third-quarter ended 31 March 2024

· Net revenue increased 15% to BDT 10,987.3m / £79.5m (2022-23: BDT 9,554.2m / £74.6m)

· Profit after tax increased 50.6% to BDT 1,366.6m / £9.9m (2022-23: BDT 907.7m / £7.1m)

Iqbal Ahmed, Managing Director of Beximco Pharmaceuticals, commented:
"I am pleased to report strong double-digit growth for the period, despite the impact of macroeconomic headwinds, including challenging exchange rates and elevated domestic inflation. While we expect these headwinds to remain for the foreseeable future, the year-on-year improvement in profitability demonstrates the resilience and strength of our business as we continue to provide high-quality, affordable medicines to patients in Bangladesh and around the globe. We will stay focused on executing on our growth strategy for the remainder of the year and look forward to providing a further update at our full-year results."

(Exchange rates of £1 = Taka 138.2585 for 31 March 2024 numbers and £1 = 128.0900 for 31 March 2023 have been used in this announcement.)

The third quarter accounts can be viewed at the Company's website:

[outsizeclothes.com] 18/4/2024 13:18

The Taka is starting to recover a bit on International money markets. This should add a bit of stability here going forward, allow management a better view of export revenue and import costs, and result in a greater £ translation of profits.

[outsizeclothes.com] 04/3/2024 16:37

Looks like a "steady as she goes" Managing Director appointment. I'm not expecting anything radical from a 47 year in the industry veteran.

[arlington chetwynd talbott] 15/2/2024 08:15

Enjoying watching the share price slowly creeping up. Long may this continue.

[3800] 13/2/2024 20:30

I have just looked at my ii account and yesterday they have credited per share 2.54c that is in USD. With ii you have to convert forex yourself or leave it in USD if you wish. I have looked at last years CTC and it shows that 20% tax was deducted before the dividend was paid to me. I'm not sure if the tax was offset against UK tax or not it will be June before I see my accountant I will ask him then about this years and how it was treated last year.

[live ink] 13/2/2024 18:55

jane deer,

Thank you. I do not know anything of Bangladeshi tax law but, absent a Double Tax agreement between Bangladesh and the UK, I am sure that the tax deducted in Bangladesh will prove to be a credit against a liability to income tax in the UK.

Live Ink

[jane deer] 13/2/2024 18:48

I see that HL has booked the dividend now into my account. I had been on the look out for it but I only saw it today, but I can't rule out it was paid before. HL have booked it as of 8 February (so I guess they have back dated the dividend payment). I hold the shares in a taxable account (not SIPP nor ISA). The amount I received is 1.99p per share, while I see BoNY Mellon is saying they paid out 2.54p - implying a withholding tax of around 22%. Do others know is this the standard Banglasdeshi withholding tax rate and is this offsettable against UK tax?

[live ink] 13/2/2024 18:34

Has anyone got the dividend scheduled by some to be paid to shareholders on 8th February?

Live Ink

[arlington chetwynd talbott] 13/2/2024 10:38

SP Angel have just published an update note (FWIW - it is non-independent research). It is available free via Research Tree.

[arlington chetwynd talbott] 12/2/2024 09:40

Interactive Investor seem to be okay with it in a SIPP though (fingers crossed). Chart looking encouraging.

[rjmahan] 11/2/2024 11:32

Thanks CB.

[3800] 09/2/2024 17:00

me too outsize, anyone who needs any info about this only needs to look back though the posts there is quite a lot there

[outsizeclothes.com] 09/2/2024 15:02

II forced me to sell the ISA holding.

[rjmahan] 05/2/2024 21:46

Anyone have these in an ISA? If so who with?

[sayuri92] 05/2/2024 10:45

The Bank of New York has the dividend listed for the US payment date of 8th February.

[outsizeclothes.com] 30/1/2024 18:42

Too early yet Live Ink. Usually arrives end of first week Feb. - IF they don't have exchange rate problems.

[live ink] 30/1/2024 10:51

Gentlemen,

Has anyone received the dough by way of dividend?

Live Ink

[greg the grinch] 19/1/2024 15:29

I looked at APH and it looked overpriced compared to BXP.

Will buy more BXP at the current price.

[blackhorse23] 17/1/2024 10:46

bought more APH today , dividend news soon

[outsizeclothes.com] 12/1/2024 11:47

An interesting twist. But should be positive.

[greg the grinch] 11/1/2024 15:55

We now have an inside man in the cabinet.... surely he will make sure domestic drug makers push out foreign ones where possible?

[elsa7878] 08/1/2024 21:14

Taka 3.5 per ordinary share/per global depository receipt held in respect of GDR holders will be paid to holders of ordinary shares/GDRs (who were on the register of shareholders'/GDR holders' as on the date of record, i.e. 13 November 2023) on or before 25 January 2024. The cash dividend will be paid after deduction of taxes as per Bangladesh Tax law.