ACME Pesticide Profits Falls by 31.22%

Industry: Medical Device & Accessories, Stock Market
Company: ACME Pesticides Ltd
Company Intelligence Tag: Business Insights

ACME Pesticides Ltd, a newly listed company in the pharmaceuticals and chemicals sector, has been experiencing a consistent decline in profits since its listing. Despite a 14.07% increase in net profits for FY21 before trading began in November 2021, the company’s profits have been decreasing annually. In FY22, profits fell by 15%, and by the end of FY23, they stood at Tk 12.93 crore, marking a 31.22% decrease year-on-year. The reason behind this declining trend remains unclear, with no explanation provided on the Dhaka Stock Exchange (DSE) website. Moreover, ACME Pesticides has also reduced dividends paid to shareholders due to falling profits. While a 5% cash dividend was paid at the end of FY22, it dropped significantly to just 0.10% per share at the end of FY23.

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