BBS Cables’ profit falls for rising raw material prices

BBS Cables witnessed a decline in profits in 2021-22 fiscal year because of the rising global prices of raw materials and a fall in government tenders, which is the biggest source of the company's earnings.

The cable producer's earnings per share dropped more than 13 per cent year-on-year to Tk 4.01 in 2021-22.

The company shared the information in its disclosure published today on the website of the Dhaka Stock Exchange.

However, the board of directors of BBS declared 8 per cent cash and 5 per cent stock dividends for its shareholders.

The board also approved Tk 10.10 crore for purchasing land, building and capital machineries for business expansion.