Olympic Industries, the country's largest biscuits manufacturer, has posted a 14.51 per cent growth in revenue year-on-year in Fiscal Year (FY) 2017-18 to Tk 12.93 billion.
Amid growing demand for its products, the company enhanced its production capacity of cartoon, noodles and bakery manufacturing lines last year.
Biscuits, confectionery, bakery and snack products of the company accounted for more than 97 per cent of the year's total revenue, according to the company's latest annual report.
The company sold 86,934.59 metric tons of biscuits, confectionery products, bakery products and snacks in FY 2017-18, as compared to 80,289.21 metric tons a year ago, rising 8.28 per cent year-on-year.
"As we commission new production lines, we anticipate that these products will continue to account for a higher percentage of overall revenue in subsequent years," according to the company's latest annual report.
Gross profit of the company has also increased 12.03 per cent to Tk 4.22 billion and net profit after tax increased by 9.0 per cent to Tk 1.79 billion during the period under review.
Demand for biscuits is growing as entrepreneurs have shifted to automation in baking and consumers are looking for a variety of quality foods at low prices.
Due to rising market demand, the company continues to invest in new opportunities within the bakery industry, officials said.
The company commissioned a new tunnel oven to increase the annual capacity for existing dry cake products by 1,800 metric tons, said the annual report.
"This now allows for much of the production process to be automated, thereby increasing our efficiency substantially".
The company received positive response from the market when it recently launched soft cake.
"We are exploring opportunities to add new flavours and variants to our bakery portfolio," the annual report added.
The company's cost of goods sold increased to Tk 8.71 billion, from Tk 7.52 billion a year ago, soaring 15.75 per cent, due to higher global input costs and the depreciation of the Bangladesh Taka, the annual report said.
Cash flows from operating activities decreased 7.63 per cent to Tk 913.21 million from Tk 988.67 million a year ago, with net operating cash flow per share decreasing to Tk 4.57 per share from Tk 4.94 per share a year ago, said the annual report.
"As advised earlier, we have started using our cash in more constructive ways to generate more positive operating returns rather than non-operating income".
On the other hand, the company's dry-cell battery sales were also 51.51 million pieces in FY 2017-18, as against 49.58 million pieces in 2016-2017, rising 3.88 per cent.
Each share of the company, which was listed on the prime bourse in 1989, closed at Tk 236 on Thursday last.
The company disbursed 48 per cent cash dividend for the year ended on June 30, 2018.
The company has also reported earnings per share (EPS) of Tk 8.96, net asset value (NAV) per share of Tk 31.53 and net operating cash flow per share (NOCFPS) of Tk 4.57 for the year ended on June 30, 2018 as against Tk 8.22, Tk 27.07 and Tk 4.94 respectively for the same period of the previous year.
In six months for July-December, 2018, the company's EPS was Tk 4.60 as against Tk 4.39 for July-December, 2017.
The company's paid-up capital is Tk 1.99 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 199.93 million.
The sponsor-directors own 27.77 per cent stake in the company, while institutional investors own 15.76 per cent, foreign investors 39.84 per cent and general public 16.63 per cent as on February 28, 2019, the DSE data shows.
Established in 1979, Olympic Industries is the largest manufacturer, distributor and marketer of biscuits in Bangladesh, according to its official website.
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