DSE suspends Pharma Aids trade - Share market analysis of dhaka stock exchange, Bangladesh

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06 February, 2014 09:35 AM Source: Dhaka Tribune
DSE suspends Pharma Aids trade.jpg

Dhaka Stock Exchange has suspended share trading of Pharma Aids Limited as on yesterday, which will remain suspended until further order, due to non-compliance of securities rules.

The pharmaceutical company has created impediments to DSE in carrying out its normal activities in relation to listed companies by not allowing the bourse’s executives to conduct an official factory premise inspection, , said a circular posted on DSE website.

It added the company failed to comply with its continuing obligations in respect of listing regulations by preventing the exchange from carrying out its essential work to protect the greater interest of investors.

A show cause notice has also been served upon the company to clarify its position in this regard.

The “A” category stock has registered a gain of 15% during last one month till it closed at Tk181.3 on Tuesday. On January 30, the company reported an unaudited half yearly (July to December) profit of Tk66.3 lakh after tax in 2013 against a profit of Tk49.9 lakh during the same period of 2012.

Most of the profit was made in the second quarter (October to December) as the profit stood at Tk38.9 lakh during the period in 2013 against Tk10.3 lakh in 2012. Latest audited annual report of the company shows a fall in sales in 2013 against 2012. Net annual sales of the company stood at Tk9.7 crore in 2013 while it was Tk10.8 crore in 2012.

On the contrary fixed asset has been increased by 82% with the addition of new plant and machinery worth Tk3.8 crore.

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