Rising costs negatively impacting printing industry

Book sales in Bangladesh have dropped by about 50% over the past two months due to recent socio-political unrest, including student-led protests. Contributing factors include rising inflation, reduced purchasing power, the closure of educational institutions, and flooding.

Sonali Paper & Board Mills reported a substantial loss of Tk 118 million for the January-March 2024 quarter, a 4.8-fold increase from the previous year, largely due to unrealized losses from stock market investments. Loss per share rose to Tk 3.6 from Tk 0.75.

Star Adhesives Ltd, part of the Partex Star Group, has received approval from the Bangladesh Securities and Exchange Commission to issue a Tk50 crore convertible bond. The bond will be unsecured, fully convertible, or redeemable over six years, with a one-year moratorium.

Bashundhara Paper Mills, a prominent manufacturer of paper and paper allied materials, faced a notable 20% decline in profit during the initial nine months of the fiscal year 2023-24. The company's profit for the July-March period dropped to Tk31.51 crore from Tk39.25 crore in the same timeframe of the previous fiscal year. Despite a responsive business strategy resulting in a 4.01% increase in sales,

Prime Bank Investment Limited (PBIL) recently finalized two notable Merger & Acquisition (M&A) deals for Magura Group, solidifying its position in Bangladesh's investment banking sector. The mergers involved Pearl Paper and Board Mills Limited merging with Bangladesh Monospool Paper Manufacturing Co. Ltd., and Magura Paper Mills Limited merging with Paper Processing & Packaging Limited, both receiving approval from the High Court Division and Bangladesh Securities & Exchange Commission.

Bashundhara Paper Mills faced a 17% decline in net profit for the first half of FY 2024, despite a 4% growth in revenue. The company attributed the profit dip to a dollar crisis, which hampered raw material imports, leading to reduced factory operations.