Ambee Pharma returns to profit

Ambee Pharmaceuticals Limited returned to profit in the financial year that ended on June 30.

It made a profit of Tk 80.64 lakh in 2021-22 after incurring a loss of Tk 1.3 crore a year prior.

The pharmaceuticals company reported earnings per share of Tk 3.36 for the last financial year, which was Tk 5.42 negative in 2020-21.

The net asset value per share rose to Tk 21.96 from Tk 18.68 during the period.

Ambee Pharmaceuticals' net operating cash flow per share was Tk 30.49 negative in the last financial year compared to Tk 2.27 negative in 2020-21.

Its board of directors has recommended a 10 per cent cash and a 20 per cent stock dividend for 2021-22.

In a filing on the Dhaka Stock Exchange yesterday, the company said a proposal to change the name of the company from Ambee Pharmaceuticals Limited to Ambee Pharmaceuticals PLC will be placed for approval at the annual general meeting on December 31.

Another proposal to increase the authorised capital from Tk 2.50 crore to Tk 30 crore will also be presented.

The authorised capital of a company is the maximum amount of share capital that a firm is allowed by its constitutional documents to issue to shareholders.

Shares of Ambee Pharma closed 7.57 per cent higher on the DSE yesterday.