12th May 2014 10:52
LONDON (Alliance News) - Bangladesh-based Beximco Pharmaceuticals Ltd Monday expressed confidence in its growth strategy, as it saw profit rise in 2013, despite its business being disrupted by "political turmoil" during the fourth quarter of the year.
The generic pharmaceutical products company posted a pretax profit of BDT2.09 billion, up from BDT1.91 billion in the previous year, as revenue rose to BDT10.49 billion from BDT9.29 billion.
The company launched 23 products during the year in its domestic market, including six which were launched for the first time in Bangladesh. It has registered 38 of its products in 14 countries, including new additions Madagascar, Estonia and Uganda.
It began exporting two of its opthalmic products in Europe for the first time during 2013, it said.
Beximco posted a 5% stock dividend, meaning five shares for 100 shares held, and a cash dividend of BDT1 per share for the year.
"We are confident that with our focused strategy to achieve sustained growth, we are well on course to realize our targets and in creating value for our shareholders in the coming years," said Managing Director Nazmul Hussan in a statement.
The company launched 13 new products during the first quarter of 2014, and has registered 12 products in different overseas markets.
Shares in Beximco were trading up 5.6% at 16.62 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Beximco Pharma