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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% | 37.00 | 36.00 | 38.00 | 37.00 | 37.00 | 37.00 | 23,201 | 01:00:00 |
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
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
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(END) Dow Jones Newswires
November 14, 2017 02:00 ET (07:00 GMT)
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