Olympic Industries reports a modest, less than 1% profit growth to Tk 591 million in October–December 2023 compared to the same quarter in 2022. The leading biscuit manufacturer’s earnings per share (EPS) stand at Tk 2.96 for the quarter in 2023, a slight increase from Tk 2.93 in the corresponding quarter in 2022.
Notably, the company successfully reduced administrative costs by 19% YoY in the same quarter, while production costs dropped 4% to Tk 4.83 billion. Olympic Industries achieved a 10% YoY growth in half-yearly profit, reaching Tk 1.15 billion, offsetting costs through increased selling prices. Despite a 6% drop in domestic sales, exports rose by 5% in the July–December period of 2023. The company’s consistent financial performance positions it as one of the best-performing blue-chip stocks. Foreign investors favored Olympic Industries in 2023, with foreign stakes increasing to 24.92% by December 2023.
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