Lovello Ice Cream’s profit grows 186% in Jul-Sep
Taufika Foods and Lovello Ice-cream PLC reported a 186 percent jump in profit for the July-September quarter of 2024.
The profit was Tk 7.70 crore, up from Tk 2.69 crore in the same period last year.
For all latest news, follow The Daily Star's Google News channel. The company credited a 48 percent rise in sales for this performance, according to a disclosure on the Dhaka Stock Exchange (DSE) website.
Earnings per share surged to Tk 0.91, compared to Tk 0.32 in the previous year.
Net operating cash flow per share also climbed to Tk 1.68, reflecting improved financial strength.
Earlier, Lovello Ice-cream PLC posted a profit of Tk 12.18 crore for the year ended on June 30, 2024.
The ice cream makers' board recommended a 20 percent dividend, comprising 10 percent cash and 10 percent stock, which is intended to boost its capital adequacy by converting retained earnings into paid-up capital.
Shares of Lovello rose 2.64 percent to Tk 101.10 on the DSE today.
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