Aman Feed starts production in new Sirajganj plant

Aman Feed started commercial production in its new floating fish feed plant in Sirajganj on Tuesday, which will raise the company's annual output by 60 percent.

Rafiqul Islam, chairman of the leading animal feed producer, inaugurated the plant as part of the company's expansion plan.

The Tk 34-crore plant will help the company produce an additional 43,200 tonnes of feed a year from its current annual capacity of 72,000 tonnes.

It expects its annual sales to increase by about Tk 183 crore thanks to the new plant. Its sales totalled Tk 321.72 crore in nine months to March this year.

Aman Feed's net profit for the third quarter that ended in March this year was Tk 12.14 crore, down from about Tk 14 crore in the same period last year, according to the company's financial statement.

With the new plant, Aman Feed expects its net profit to rise by Tk 14.50 crore a year.

In December last year, the company invested Tk 4.33 crore to purchase 96.25 decimals of land adjacent to its factory in Sirajganj, according to the Dhaka Stock Exchange.

Net operating cash flow per share of the company declined to Tk 5.13 in the nine months to March from Tk 5.42 in the same period last year.

Listed with the DSE in 2015, Aman Feed's shares traded Tk 68.20 yesterday. It declared 30 percent dividend in the last three years.

Aman Group is now working to bring Aman Cotton Fibrous, Aman Cement and Aman Textile to the stockmarket.

Aman Cotton Fibrous has already started the process to go public through book building method. The cut-off price of the company was Tk 40 in the bidding held recently.