Matin Spinning Mills Profit Jumps by 790%

Bangladesh is projected to remain the world’s top cotton importer in MY2025-26, with imports reaching 8.5 million bales, ahead of Vietnam’s 8 million, according to the USDA. This surge aligns with a 10.86% year-on-year rise in Bangladesh’s RMG exports to $30.25 billion in the first 10 months of FY25.

Following Bangladesh’s decision to ban yarn imports via five land ports—Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari, which previously handled 30% of India’s yarn exports—Indian producers are shifting toward waterways and sea routes.

Matin Spinning Mills posted a 7.15% year-on-year profit increase to Tk 102 million in Q3 (January–March), with EPS rising to Tk 1.05 from Tk 0.98. The company recorded its highest-ever Q3 sales revenue at Tk 2.04 billion, reflecting a 16% year-on-year increase.

According to a recent USDA report, the United States is losing cotton market share in Bangladesh due to logistics issues and long shipment times. In Marketing Year (MY) 2023-24, Bangladesh imported 7.8 million bales of cotton, with the U.S. contributing 9%, down from 10% in MY23.

Bangladesh’s Simco Spinning & Textiles, the first certified garment waste recycling facility in the country, is facing a trademark dispute with Swiss sportswear giant ON over similar brand names—Cyclo and Cyclon. Simco registered Cyclo in Singapore in 2014 and expanded to 20+ countries, supplying recycled yarn to global apparel manufacturers.

TRANSFORM, an impact accelerator led by Unilever, the UK Government, and EY, announced grants of up to BDT 10 million each for two Bangladeshi SMEs focused on climate resilience.