Miracle Industries’ earnings decline, offers 1% dividend

The earnings per share (EPS) of the Miracle Industries Ltd have dropped by 1,674 percent to Tk3.62 in the negative for 2019-20 fiscal year (FY) as against Tk0.23 for the same period of last FY.

According to its statement on the Dhaka Stock Exchange (DSE) on Tuesday, the board of directors of the company has recommended a 1 percent cash dividend for the year.

The company has also reported net asset value (NAV) per share of Tk31.93 and net operating cash flow per share (NOCFPS) of Tk6.67 for 2019-20 FY, as against Tk38.85 and Tk5.53 respectively for the same period of the previous FY.

Following the corporate declaration, there will be no price limit on the trading of the shares of the company. However, the floor price set by the Bangladesh Securities Exchange Commission (BSEC) will be applicable accordingly.

The annual general meeting (AGM) of the company is scheduled to take place on December 26.

Fall in turnover deviated Q1 earnings

In another statement on DSE, the Miracle Industries Ltd reported that its EPS was Tk0.02 for Q1 (July-September) of 2020 as against Tk1.25 in the negative for the same period of last year.

It also reported that the NOCFPS was Tk0.03 in the negative for Q1 of 2020 as against Tk1.49 for the Q1 of 2019.

Meanwhile, the net asset value (NAV) per share was Tk31.94 as on September 30 and Tk31.93 as on June 30, 2020.

The company claimed that a significant deviation in EPS is due to the fall in turnover arising out of banking restrictions.