Dhaka, Bangladesh (BBN)- Marico Bangladesh Limited (MBL), a leading operator in the beauty and wellness sector, has approved 25 percent cash dividend for 2008-09.
The approval came at the 10th annual general meeting of the company held at Mouchak under Gazipur district on Tuesday, a company announcement said.
Debashish Neogi, managing director of the company, presided over the meeting, where Kunal Gupta, Ghulam Mostafa and Rupali Chowdhury, directors of Marico Bangladesh, were also present.
"I am very satisfied that despite the tough macroeconomic environment which saw a decline in gross domestic product (GDP) growth consequent to the global recession, the company delivered a very strong financial performance,” Neogi said.
The company posted BDT 4.06 billion in turnover for the period from October 2008 to September 2009, which is 53 percent growth over the previous year, according to the announcement.
During the period, Marico's operating profit was BDT 495 million an increase of 20 percent over the previous year. The company earned a net profit of BDT 470.9 million, 76 percent growth over the previous year.
The MBL is a subsidiary of leading Multinational Group MARICO, which operates in consumer products and services in the Beauty and Wellness space in more than 21 countries with a significant presence in Middle East & North Africa, Southern Africa and South East Asia, including Bangladesh and India.
BBN/SS/SI/AD-21January10-11:30 am (BST)