Peninsula hotel posts 120% rise in quarterly earnings

The Peninsula Chittagong Limited has posted a-120 percent increase in its earnings in the second quarter ended on December 31, 2021 as against the same quarter last year.

Its earnings per share (EPS) stood at Tk 0.33 in the Q2, up from Tk 0.15 recorded in the same period a year earlier, said the company in a filing with the Dhaka Stock Exchange on Sunday.

Mohammed Nurul Azim, company secretary of the Peninsula hotel, told the Business Insider Bangladesh that EPS rose due to an increase in net profit and net operating income.

This happened because of a decrease in tax rate compared with the previous year, he added.

As of December 31, 2021, the company’s net asset value (NAV) per share stood at Tk 29.92 against Tk 30.28 as of June 30, 2021.

Meanwhile, the company had consolidated earnings per share (EPS) of Tk 0.64 in the first six months of the current financial year (July-December ’21). 

The EPS for the same period of the previous financial year was Tk 0.42. As a result, the company’s profit increased by Tk 0.22 or 52 percent.