Bangladesh services net loss up in July-December






Bangladesh Services, the state-run hotel service provider, continued to register losses for the July-December 2021 period due to low revenue generation and increased administrative and other expenses.

The company reported a net loss of Tk 563.26 million for July-December 2021, compared to a loss of Tk 500.68 million in July-December 2020.

Bangladesh Services suffered a loss of Tk 5.76 per share for July-December 2021, compared to a loss of Tk 5.12 per share in the same period a year earlier, according to a filing with the Dhaka Stock Exchange ( DSE) Wednesday.

EPS declined further in the July-December 2021 period compared to the corresponding period last year due to weak revenue generation due to Covid-19 and increased administrative and other expenses, said said a company official on condition of anonymity.

Additionally, BD Services, which pioneered the establishment of the country’s first luxury hotel, the InterContinental Dhaka, has suffered losses over the past three years.

Bangladesh Services suffered a net loss of Tka 1.81 billion for the financial year 2020-21. The company’s current liabilities exceeded its current assets by Tk 1.60 billion as of June 30, 2021.

In the financial year 2019-2020, the company recorded a net loss of Tk 462.94 million. Its current liabilities exceeded current assets by Tk 1.43 billion as of June 30, 2020.

Bangladesh Services reported a net loss of Tk 364.39 million for the financial year 2018-19. As of June 30, 2019, the company’s current liabilities exceeded its current assets by Tk 1.06 billion.

The Z-class corporation has also not declared dividends in the past seven years since 2014. The corporation paid a 15% stock dividend in 2014.

Bangladesh Services was listed on the stock exchange in 1984. Its share closed at Tk5.20 each, well below face value.

Meanwhile, EPS of Golden Son, Saif Powertec and Silco Pharma increased in July-December 2021 compared to the same period a year ago.

Golden Son’s EPS rose to Tk 0.34 for July-December 2021, from Tk 0.01 in the same period last year.

Saif Powertec’s EPS increased to Tk 1.05 for July-December 2021, compared to 0.66 in the same period of the previous year.

Silco Pharma’s EPS increased slightly to Tk 0.47 for July-December 2021, compared to Tk 0.45 in the same period last year.

However, Fu-Wang Ceramic’s EPS fell to Tk 0.17 for July-December 2021, which was Tk 0.22 in the same period a year earlier.

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