Dhaka, Bangladesh (BBN)- Renata Limited will strengthen its efforts to boost its export in the global market, maintaining and mounting its business growth.
"As the volume of business increases for Renata, it shall be difficult to maintain the present rate of growth by relying exclusively on the local market," SH Kabir, chairman of Renata Ltd said.
As part of the efforts, Renata in 2011 submitted 168 product dossiers to 19 countries. For quick entry into several ASEAN and African markets, licensing produces have been initiated for seven products, according to its annual report-2011.
Mr. Kabir also said the liquidity crisis in banks is expected to worsen leading to even higher interest rates. “Most importantly, the risk of further depreciation in the value of Bangladesh Taka which can raise our product cost continues to be a concern," he noted.
Renata basically manufactures and markets human pharmaceutical and animal health products.
The company's profit after tax was BDT 1090.6 million, a growth by 28 percent, in 2011, the annual report said.
The pharmaceutical manufacturer's turnover in 2011 was BDT 6,519.6 million registering 28 percent growth over the last year's turnover of BDT 5,090.3 million.
BBN/SSR/AD-01July12-10:20 am (BST)
