Beximco Pharmaceuticals has reported that pre-tax profit increased 12.8% to BDT 2,891.5m (£27.50m) for the 12 month period ended 30 June 2017, compared to BDT 2,564.3m or £25.24m for the previous year.
Net sales increased to BDT 15,508.8m (£147.51m), registering year-on-year growth of 12.5% (2015-16: BDT 13,785.3m (£135.7m).
Earnings per share for the year amounted to BDT 5.49.
The Company is recommending a 12.5% cash dividend (BDT 1.25 per share).
Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented: "This past year was another successful period for Beximco Pharma where we registered year-on-year sales growth of 12.5%, with exports up 25.2%, clearly demonstrating our continued momentum. We successfully commenced export of our first product in the US, achieving an important milestone by becoming the first Bangladeshi pharmaceutical company to export medicine to the US. We continue to build our US export portfolio, having received approvals for three additional products from the US FDA, with two more ANDAs submitted for approval. Additionally, our strategic initiatives include commencing our first overseas manufacturing collaboration in Malaysia and signing a memorandum of understanding to acquire a majority shareholding in Nuvista Pharma in Bangladesh.
With our strength in offering specialised generic products in a global setting, we continue to focus on building a strong pipeline for prescription markets, as well as continuing to assess strategic opportunities to expand our offering and drive sustainable growth."
At 1:50pm: (LON:BXP) Beximco Pharmaceuticals Ltd share price was +1p at 62p