Annual Report 2011 of Linde Bangladesh Limited

It is a broadly described annual report of Linde Bangladesh Limited in the year of 2011. The Company recorded a growth in turnover of 17% over the last year i.e. to Taka 3,729,754,357 from Taka 3,199,374,647. Profit from Operations grew by 6% in 2011. Pretax profit reached an all-time high of Taka 940,135,795 compared to last year’s level of Taka 903,256,446. Interest income on Fixed Deposit also contributed substantially to Pretax Profit. Stock level went up by 82% due to a higher level of welding raw-material on hand and in transit at year-end over the previous year.

An interim dividend of Taka 25.00 (250%) per share amounting to Taka 380,457,000 was paid out in the year. The payment of interim dividend was same as last year. the Directors’ recommendation for a final dividend of Taka 10.00 (100%) per share for the year, involving a payout of Taka 152,182,800 (2010 Taka 152,182,800) subject to approval at the Annual General Meeting, overall dividend percentage for the year would be 350% and total dividend payout for the year would amount to Taka 532,639,800 (2010 Taka 532,639,800).

The Directors propose to transfer Taka 681,515,609 to General Reserve from the retained profit for the year. An amount of Taka 210,32,887 being a surplus in actuarial gain and loss account was released to General Reserve after pension obligations were settled. The Company qualifies as a “Publicly Traded Company”. The effective rate of taxation is 24.75% considering 10% tax rebate for declaring the dividend of more than 20% of the paid-up capital. Provision for taxation has been made on the basis of Finance Act 2011.

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