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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 | 5,473 | 01:00:00 |
From Apr 2019 to Apr 2024
TIDMBXP
RNS Number : 3115M
Beximco Pharmaceuticals Ltd
27 April 2018
BEXIMCO PHARMACEUTICALS LTD.
27 April 2018
Financial Results for the Third Quarter of 2017-18
Beximco Pharmaceuticals Limited ("BPL", "Beximco Pharma" or "Company"; AIM Symbol: BXP, LEI No 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces its un-audited financial results for the third quarter and nine months ended 31 March 2018. 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's website: www.beximcopharma.com
For further information please visit www.beximcopharma.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)
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 3,800 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 31 March 2018
Hot Features
Premium
Taka '000
As at 31 March 2018 As at 30 June 2017
ASSETS
Non-Current Assets 28,209,565 24,953,317
-------------------- -------------------
Property, Plant and Equipment- Carrying Value 27,639,687 24,472,468
Intangible Assets 532,412 462,969
Investment in Shares 37,466 17,880
-------------------- -------------------
Current Assets 10,740,215 9,130,816
-------------------- -------------------
Inventories 3,773,316 3,468,089
Spares & Supplies 629,283 636,103
Accounts Receivable 2,544,771 2,167,340
Loans, Advances and Deposits 2,767,944 1,697,679
Short Term Investment 336,615 886,577
Cash and Cash Equivalents 688,286 275,028
-------------------- -------------------
TOTAL ASSETS 38,949,780 34,084,133
==================== ===================
EQUITY AND LIABILITIES
Shareholders' Equity 26,466,237 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 1,161,225 1,190,204
Unrealised Gain/ (Loss) 5,315 3,875
Retained Earnings 13,990,070 12,568,720
-------------------- -------------------
Non-Current Liabilities 7,721,214 5,605,667
-------------------- -------------------
Long Term Borrowings-Net off Current Maturity (Secured) 4,652,717 2,635,907
Liability for Gratuity and WPPF & Welfare Funds 1,190,614 1,117,094
Deferred Tax Liability 1,877,883 1,852,666
-------------------- -------------------
Current Liabilities and Provisions 4,762,329 3,406,040
-------------------- -------------------
Short Term Borrowings (Secured) 1,962,741 1,239,758
Long Term Borrowings-Current Maturity (Secured) 665,906 715,790
Creditors and Other Payables 1,255,483 783,839
Accrued Expenses 458,192 245,375
Dividend Payable 5,250 353
Income Tax Payable 414,757 420,925
-------------------- -------------------
TOTAL EQUITY AND LIABILITIES 38,949,780 34,084,133
==================== ===================
Beximco Pharmaceuticals Limited
Statement of Profit or Loss and Other Comprehensive Income (Un-audited)
For the Period July 2017 - March 2018
Taka '000
July 2017-March 2018 July 2016-March 2017 January-March 2018 January-March 2017
Net Sales Revenue 12,859,563 11,444,599 4,221,024 3,814,008
Cost of Goods Sold (6,872,812) (6,105,068) (2,222,045) (2,025,506)
--------------------- --------------------- ------------------- -------------------
Gross Profit 5,986,751 5,339,531 1,998,979 1,788,502
Operating Expenses (3,066,839) (2,754,843) (1,070,826) (969,478)
--------------------- --------------------- ------------------- -------------------
Administrative
Expenses (442,986) (404,631) (151,323) (135,726)
Selling, Marketing
and Distribution
Expenses (2,623,853) (2,350,212) (919,503) (833,752)
--------------------- --------------------- ------------------- -------------------
Profit from
Operations 2,919,912 2,584,688 928,153 819,024
Other Income 40,569 136,798 11,760 39,404
Finance Cost (304,547) (466,063) (98,670) (140,274)
--------------------- --------------------- ------------------- -------------------
Profit Before
Contribution to WPPF
& Welfare Funds 2,655,934 2,255,423 841,243 718,154
Contribution to WPPF
& Welfare Funds (126,473) (107,401) (40,059) (34,198)
--------------------- --------------------- ------------------- -------------------
Profit before Tax 2,529,461 2,148,022 801,184 683,956
Income Tax Expenses (608,953) (513,575) (198,094) (162,450)
--------------------- --------------------- ------------------- -------------------
Current Tax (604,928) (490,894) (188,485) (155,660)
Deferred Tax (4,025) (22,681) (9,609) (6,790)
--------------------- --------------------- ------------------- -------------------
Profit after Tax 1,920,508 1,634,447 603,090 521,506
Other Comprehensive
Income-Unrealized
Gain/(Loss) 1,440 2,167 1,543 1,386
Total Comprehensive
Income 1,921,948 1,636,614 604,633 522,892
===================== ===================== =================== ===================
Earnings per Share (EPS) / Adjusted EPS Tk. 4.74 4.03 1.49 1.29
Number of Shares used to compute EPS Nos. 405,556,445 405,556,445 405,556,445 405,556,445
----------------------------------------- ------ ------------ ------------ ------------ ------------
Beximco Pharmaceuticals Limited
Statement of Changes in Equity (Un-audited)
For the Period July 2017 - March 2018
As at 31 March 2018 Taka '000
---------------------------- ----------- ---------- ---------- ------------ ----------- ----------- -----------
Share Share Excess of Capital Revaluation Unrealised Retained Total
Capital Premium Issue Reserve Surplus Gain / Earnings
Price on Merger (Loss)
Over 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 - - - - - - 1,920,508 1,920,508
Other
Comprehensive
Income /
(Loss) - - - - - 1,440 - 1,440
12.5 % Cash
Dividend for
2016-2017
(July 2016 to
June 2017) - - - - - - (506,945) (506,945)
Adjustment for
Depreciation
on Revalued
Assets - - - - (7,787) - 7,787 -
Adjustment for
Deferred Tax
on Revalued
Assets - - - - (21,192) - - (21,192)
Balance as on
31 March 2018 4,055,564 5,269,475 1,689,637 294,951 1,161,225 5,315 13,990,070 26,466,237
Number of Shares on 31 March 2018 405,556,445
Net Asset Value (NAV) Per Share on 31 March 2018 Tk. 65.26
----------------------------------------------------- ---------- ------------ ----------- ------------------------
As at 31 March 2017 Taka '000
--------------------------- ---------- ---------- -------- ------------ ----------- ----------- -----------
Share Share Excess of Capital Revaluation Unrealised Retained Total
Capital Premium Issue Reserve Surplus Gain / Earnings
Price on (Loss)
Over Face Merger
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 - - - - - - 1,634,447 1,634,447
Other
Comprehensive
Income /
(Loss) - - - - - 2,167 - 2,167
5% Final Cash
Dividend
(January 2015
to June 2016) - - - - - - (193,122) (193,122)
5% Stock
Dividend
(January 2015
to June 2016) 193,122 - - - - - (193,122) -
Adjustment for
Depreciation
on Revalued
Assets - - - - (8,818) - 8,818 -
Adjustment for
Deferred Tax
on Revalued
Assets - - - - (23,874) - - (23,874)
Balance as on
31 March 2017 4,055,564 5,269,475 1,689,637 294,951 1,192,408 3,462 11,973,533 24,479,030
--------------- ---------- ---------- ---------- -------- ------------ ----------- ----------- -----------
Number of Shares on 31 March 2017 405,556,445
Net Asset Value (NAV) Per Share on 31 March 2017 Tk. 60.36
--------------------------------------------------- -------- ------------ ----------- ------------------------
Beximco Pharmaceuticals Limited
Statement of Cash Flows (Un-audited)
For the Period July 2017 - March 2018
Taka '000
July 2017- July 2016-
March 2018 March 2017
Cash Flows from Operating Activities:
Receipts from Customers and Others 12,491,561 11,205,966
Payments to Suppliers and Employees (10,073,250) (8,670,751)
------------- -------------
Cash Generated from Operations 2,418,311 2,535,215
Interest Paid (304,547) (466,063)
Interest Received 51,072 125,561
Income Tax Paid (611,096) (422,954)
------------- -------------
Net Cash Generated from Operating Activities 1,553,740 1,771,759
Cash Flows from Investing Activities:
Acquisition of Property, Plant and Equipment (3,748,433) (1,937,531)
Intangible Assets (93,995) (67,415)
Disposal of Property, Plant and Equipment 1,354 4,222
Dividend Received 1,504 1,428
Decrease in Short Term Investment 549,962 187,482
------------- -------------
Net Cash Used in Investing Activities (3,289,608) (1,811,814)
Cash Flows from Financing Activities:
Net Increase/ (Decrease) in Long Term Borrowings 1,928,191 133,422
Net Increase/ (Decrease) in Short Term Borrowings 722,983 98,471
Dividend Paid (502,048) (175,142)
------------- -------------
Net Cash Generated from Financing Activities 2,149,126 56,751
------------- -------------
Increase / (Decrease) in Cash and Cash Equivalents 413,258 16,696
Cash and Cash Equivalents at Beginning of Period 275,028 221,121
Cash and Cash Equivalents at End of Period 688,286 237,817
============= =============
Net Operating Cash Flow per Share Tk. 3.83 4.37
Number of Shares used to compute Net Operating Cash Flow per Share 405,556,445 405,556,445
--------------------------------------------------------------------------- ------------- -------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTKMGZDVVNGRZM
(END) Dow Jones Newswires
April 27, 2018 02:00 ET (06:00 GMT)
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