Walton Hi-Tech Industries reported a significant 73% increase in profit for FY24, reaching Tk 13.57 billion despite high inflation and macroeconomic challenges. The company’s earnings per share rose to Tk 44.78 from Tk 25.84 the previous year. This growth, attributed to higher sales and reduced finance costs due to lower currency devaluation impacts, led Walton to declare a record 350% cash dividend for general shareholders and 200% for sponsor-directors. The operating profit margin improved to 25.02%, while finance costs decreased from 11.35% to 6.11%. Despite a drop in net operating cash flow per share to Tk 56.96, the company’s net asset value increased to Tk 379.3 per share. Walton, the largest consumer electronics brand in Bangladesh, commands a 75% market share in refrigerators and half of all television sales. The company has been gradually increasing its free float shares to meet regulatory requirements. However, its stock price has fallen significantly since January, reducing its market capitalization by Tk 99 billion.
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