Category: General

The Board of Directors of Olympic Industries Limited is pleased to announce that it has decided to purchase two plots of land measuring total 34.00 decimals for total consideration of BDT 6,800,000.00 (19 decimals for BDT 3,800,000.00 and 15 decimals for BDT 3,000,000.00) at Lolati, Kanchpur, Sonargaon, Narayanganj. The company has also decided to sell a 19.00 decimals plot of land for total consideration of BDT 3,800,000.00 at Lolati,  Kanchpur, Sonargaon, Narayanganj.

The Board of Directors of Olympic Industries Limited is pleased to announce that it has decided to import a new cookies manufacturing line, including ancillary and packaging machinery, from Italy and India, at an estimated of BDT 133.00 million to be funded by both cash and bank financing, to produce new, premium varieties of cookies. This new line, the company’s ninth, will have an estimated annual capacity of 7,200 metric tons.

The company reported its unaudited Q3 2015-2016 results – Earnings per share: BDT 2.27 (January to March 2016) vs BDT 1.35 (January to March 2015). BDT 6.26 (July 2015 to March 2016) vs BDT 3.90 (July 2014 to March 2015). NOCFPS: BDT 8.87 (July 2015 to March 2016) vs BDT 5.56 (July 2014 to March 2015). NAV: BDT 21.52 (March 31, 2016) vs BDT 18.97 (March 31, 2015).

In conjunction with our December 30, 2015 price sensitive information, we are pleased to advise that we have applied to the Board of Investment to request for the cancelation of registration for the ballpoint pen, cereal bar and chutney manufacturing units and to request permission to sell any and all usable machineries to interested parties (and dispose of obsolete machineries), cancel or amend necessary registrations, licenses and certificates, etc. If necessary, full disclosure of the units and transaction(s) may be ratified by shareholders at the company’s next annual general meeting.

The company reported its unaudited Q2 2015-2016 results – Earnings per share: BDT 2.18 (October to December 2015) vs BDT 1.31 (October to December 2014). BDT 3.98 (July to December 2015) vs BDT 2.55 (July to December 2014). NOCFPS: BDT 6.49 (July to December 2015) vs BDT 2.94 (July to December 2014). NAV: BDT 19.24 (December 31, 2015) vs BDT 23.43 (December 31, 2014).

The Board of Directors of Olympic Industries Limited is pleased to announce that it has taken the following decisions: 1. Confirmation of completion of a 52,000 sqft production building at its Madanpur biscuit factory premises; 2. Commence construction of a 200,000 sqft production building at its Lolati biscuit factory premises, at an estimated cost of BDT 447.59 million to be funded from its own sources. This building will provide space for the installation of new machinery for future expansion projects and storage facilities for raw materials and finished goods; 3. Cease production of ballpoint pens, cereal bars and chutney at their respective units by January 31, 2016; 4. Import a new biscuit line, complete with ancillary and packing machinery from Italy and India, at an estimated cost of BDT 104.00 million to be funded through bank financing, to produce new varieties of biscuits and to meet the increased demand for its products. This line, the company’s eighth, will have an estimated annual capacity of 9,600 metric tons; 5. Import a PET sheet forming and tray making unit from China at an estimated cost of BDT 56.00 million to be funded through bank financing, to produce trays for use in the packing of the company’s biscuits with an estimated annual capacity of 10 million trays to ensure uniformity in the quality of trays, reduce the cost of trays and reduce the company’s dependence on external suppliers.