Yeakin Polymer’s loss extends in FY22

Yeakin Polymer Limited suffered a loss of Tk 5.23 crore in the financial year that ended on June 30.    

The loss stood at Tk 4.05 crore a year earlier.

Thus, the manufacturer of PP woven bags, garments accessories and household plastic products reported earnings per share of Tk 0.71 in negative for FY22 against a negative Tk 0.55 in FY21.

"The EPS decreased due to the effects of the Covid-19 pandemic, the Russia-Ukraine war, the shortage of working capital, drop in sales and increase in raw material costs," said Yeakin Polymer in a filing on the Dhaka Stock Exchange.

The net asset value per share declined to Tk 6.16 in the last financial year from Tk 11.12 in FY21. The net operating cash flow per share stood at Tk 0.01 in negative for the last financial year against Tk 0.80 a year ago.

The NOCFPS decreased significantly due to the raw material supply crises in the local and international markets, the purchase of most of the raw materials locally in cash, slow receivable recovery, and the working capital shortage.

The board of the company recommended no dividend for FY22.

Shares of Yeakin Polymer closed unchanged at Tk 19.20 on the DSE yesterday.