Fu Wang Foods posts 55% profit growth in July-December

Fu Wang Foods Ltd posted a 55 per cent increase in profit to Tk 1.55 crore in the July-December half of the current financial year.

This compared to Tk 99.76 lakh profit the food manufacturer made in the same half a year ago.

The company reported earnings per share of Tk 0.14 for the first half of 2022-23, up from Tk 0.09 in the July-December of 2021-22, according to its audited financial statements.

The net operating cash flow per share of Fu Wang Foods fell to Tk 0.08 in July-December of FY23 from Tk 0.40 a year earlier.

The net asset value per share, however, rose to Tk 3.74 on December 31 from Tk 3.46 on June 30.

The board of directors recommended a 0.50 per cent interim cash dividend for the half that ended on December, said Fu Wang Food in a post on the Dhaka Stock Exchange today.

Share price of the food maker remained unchanged at Tk 23.5 as of 12.54 pm today.

Fu-Wang Foods is a manufacturer of confectionary items such as cakes, bread, biscuits, toasts, snacks and instant noodles. It also makes chocolate items, drinking water and carbonated drinks, according to the company's website.