Annual Report 2010 of RAK Ceramics (Bangladesh) Limited

It is a broadly described annual report of RAK Ceramics (Bangladesh) Limited in the year of 2010. During the year 2010, RAK Ceramics (Bangladesh) have contributed to National Exchequer total of Taka. 1,523.49 million by way of Corporate Income tax of Taka. 174.86 million, withholding tax from suppliers and service providers of Tk. 86.11 million, the VAT of Tk. 651.59 million, the supplementary duty of Tk. 491.91 million and other duties/taxes of Tk. 119.02 million. The Company’s reserves increased to Taka. 1,270.35 million from Taka. 684.51 million in 2009. The Company surged consolidated net profit after tax Taka. 606.52 million in 2010 against Taka. 324.88 million in the previous year with a growth of 86.69 percent. In June 2010, the Company got listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange through a primary issue of Tk. 34.51 million equity shares at a premium of Taka 38 (Taka 10 face value per share).

The Board of Directors of the Company is pleased to recommend dividend @15 percent in cash and 10 percent in stock of the paid-up capital of the Company for the year 2010. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

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