Dird Washing Laid Off 300 Workers

Bank Asia PLC is offering home finance through its Islamic Banking services at a record-low 10.50% profit rate, with no compounding profit or pre-maturity fees. Salaried applicants need employment documents, while business owners must provide trade and financial records. Additional documents, like agreements with developers or construction approvals, are required based on the purpose.

LafargeHolcim Bangladesh reported a 45% year-on-year profit drop for Q3 2024, with sales declining 2% to Tk 6.27 billion, due to macroeconomic challenges and high inflation impacting the construction sector. EPS fell from Tk 1.38 to Tk 0.76.

Premier Cement Mills PLC returned to profitability with a Tk 74.23 crore profit for FY24, following two years of losses, and announced a 21.5% cash dividend, its highest in nine years. The turnaround, attributed to reduced foreign exchange losses and a new efficient production unit, saw EPS rise to Tk 7.04 from a loss of Tk 7.99 the previous year.

Far East Knitting & Dyeing reported a 3.7% profit increase to Tk 35.87 crore for FY24, with EPS rising to Tk 1.64 and NOCFPS surging to Tk 6.36, driven by stronger cash inflows. The board proposed a 14% cash dividend, the highest in 10 years, reflecting growth in serving major brands like Zara and Mango.

Garment exports from Bangladesh's competitors like India, Vietnam, China, and Cambodia surged in major Western markets, capitalizing on Bangladesh's recent labour unrest and political instability. In September, India's exports grew by 17.3% year-on-year, while Bangladesh's exports rose by 5.3% in July-September, according to the Export Promotion Bureau.

Lovello Ice-Cream has announced a 10% cash and 10% stock dividend for FY 2023-24, reporting a revenue increase to Tk99.21 crore and a net profit of Tk12.18 crore. The company is investing Tk150 crore in a second plant to double production capacity to 2,50,000 litres daily by June 2025. The AGM is scheduled for 30 December, with a record date of 10 November. The domestic branded ice cream market is expected to grow from Tk1,400 crore to Tk2,600 crore by 2025.