Eastern Housing Limited (EHL), a listed company, continued its steady growth in net profit for the last four years.
The company reported its net profit of Tk 345.52 million for 2019, Tk 324.44 million for 2018, Tk 217.51 million for 2017 and Tk 192.21 million for 2016 (11 months).
The company reported its EPS (earnings per share) of Tk 3.70 for the year ended on June 30, 2019 against Tk 3.48 for the corresponding period of the previous year.
Dhiraj Malakar, managing director at EHL, said during the year the company achieved overwhelming success mainly through sales of lands.
"It was over Tk 5.0 billion out of which more than 90 per cent came from the land sales," Mr. Malakar said in his speech included in the annual report for 2019.
He said their company is not lagging behind in case of apartment business also.
"We are in the process of handing over of one mega commercial project and one luxurious residential apartment project value of which are Tk 2.2 billion and Tk 1.14 billion respectively," the managing director said.
The company's EPS was Tk 2.33 in 2017 and Tk 2.16 in 2016 (11 months), according to the annual report.
The EPS of EHL also rose marginally for October-December 2019 compared to same period of the previous year.
The EHL reported its EPS of Tk. 0.98 for October-December 2019 against Tk. 0.89 for October-December 2018, while the EPS was Tk. 2.25 for July-December 2019 against Tk. 2.06 for July-December 2018.
According to the annual report, the company's revenue rose gradually during since 2016.
The EHL reported its revenue of above Tk 3.58 billion for 2019, above Tk 3.41 billion for 2018, above Tk 3.17 billion for 2017 and above Tk 2.68 billion for 2016 (11months).
The company's net profit margin was 9.65 per cent for 2019, 9.49 per cent for 2018, 6.86 per cent for 2017 and 7.18 per cent for 2016.
The company's disbursement of dividends was also steady along with increased profits earned in last four years.
The company disbursed 20 per cent cash dividend for 2019, 25 per cent cash for 2018, 22 per cent cash for 2017 and 15 per cent cash and 5.0 per cent stock for 2016.
"The board of directors has a dividend policy which is based on the company's performance and long term objectives," according to the company's corporate governance statement.
The company's current ratio was above 1.11 (times) for last four years meaning that the amounts of current assets were greater than the liabilities of respective years.
The EHL, presently an 'A' category company, was listed on the DSE in 1994.
The company's sponsor-directors hold 50.09 per cent shares, institutes 29.64 per cent and general public 20.27 per cent as on January 31, 2020.
The company's share price closed at Tk 43.20 each on Thursday with a marginal loss of 1.4 per cent or Tk 3.14 on the Dhaka Stock Exchange (DSE).
In the annual report for 2019, the company's managing director said amid slow down in the capital market during the year under review the share price of EHL was not slanted down.
The market price was Tk 53.80 per share at the end of 2019, Tk 49.7 per share at the end of 2018, Tk 49.20 per share at the end of 2017 and Tk 36.2 per share at the end of 2016.
