The Peninsula Chittagong Ltd, a luxurious hotel located in the port city, reported a 120 per cent increase in its second quarter (Q2) earnings for October-December 2021, thanks to higher revenue income and reduced corporate tax rate.
In a filing with Dhaka Stock Exchange (DSE) Sunday, the company said its earnings per share (EPS) increased to Tk 0.33 for October-December 2021, up by a whopping 120 per cent, from Tk 0.15 in the corresponding period.
The company's EPS for six months until December 31, 2021 also increased to Tk 0.64 as against Tk 0.42 for July-December 2021.
EPS is the portion of a company's profit allocated to each outstanding share of common stock. In short, it serves as an indicator of a company's profitability.
"EPS has increased due to rise of net profit, net operating income and decrease of tax rate compared to the same period of the previous year," said the company.
Despite the hospitality business being disrupted due to the third wave of pandemic during the quarter, the non-operating income increased and the tax rate decreased, it said.
The current tax rate also reduced to 22.50 per cent from 25 per cent, according to the company.
The net operating cash flow per share (NOCFPS) was Tk 0.26 for July-December 2021 as against Tk 0.18 for July-December 2020.
The net asset value (NAV) per share was Tk 29.92 as on December 31, 2021 and Tk 30.28 as on June 30, 2021.
The NOCFPS has increased due to rise of receipt from customers compared with previous year.
Despite the higher profit, its share price fell by 6.54 per cent to close at Tk 40 each on Sunday. Its shares traded between Tk 17.20 and Tk 44.90 in the last one year.
The company disbursed a 10 per cent cash dividend for the year ended on June 30, 2021. In 2020, it also paid a 10 per cent cash dividend.
Listed in 2014, the Peninsula's paid-up capital is Tk 1.18 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 118.66 million.
Sponsor-directors own 49.95 per cent stake in the company, while the institutional investors own 10.60 per cent, foreign investors 0.17 per cent and the general public 39.28 per cent as on January 31, 2022, the DSE data showed.
Meanwhile, Yeakin Polymer, a composite PP woven bag manufacturer for local and export industries, has returned to profit in the October-December 2021, after incurring loss in the same period last year.
The company has reported that its earnings per share (EPS) rose to Tk 0.64 for October-December 2021, as against loss of Tk 0.12 per share in the same period in 2020.
The company's EPS for six months for July-December 2021 also increased to Tk 0.50 as against loss of Tk 0.56 per share for July-December 2020, according to its unaudited financial statement published on Sunday.
Since improvement of Covid-19 scenario, the company increased production and sale compared to previous period and also some previous finished/semi-finished stocks sales in lots, as a result profitability increased as well as EPS rose significantly, said the company.
Yeakin Polymer also is witnessing an unprecedented price hike and increase in volume of shares despite no undisclosed price sensitive information (PSI).
Within a month, the company's share price doubled and reached more than two years' highest price at Tk 24.60 on Thursday last. However, its share price dropped 4.02 per cent to close at Tk 23.90 on Sunday.
Following the recent 'abnormal' price hike, the DSE served show-cause notice on the company last week. The company in a knee-jerk response to the DSE query said that there is no undisclosed PSI.
Information was spread beforehand that the company was going to show good profits in the second quarter, it was revealed speaking with several brokerage firms.
They also mentioned another rumour on possible ownership changes being spread in the market.
Senior executives of the company could not be reached over the telephone.
Listed in 2016, Yeakin Polymer's paid-up capital is Tk 736.99 million and authorised capital is Tk 1.0 billion, while the total number of securities is 73.69 million.
The sponsor-directors own 30.52 per cent stake in the company, while the institutional investors own 14.17 per cent and the general public 55.31 per cent as on January 31, 2022, the DSE data showed.
