Annual Report 2011 of Olympic Industries Limited

It is a broadly described annual report of Olympic Industries Limited in the year of 2011. During the fiscal year ended June 30, 2011, Olympic Industries Limited contributed Tk. 658.593,500 to the National Exchequer in the form of value-added tax, income tax, customs, duties, and other levies which equates to 16.95% of the annual net turnover of the company. The value of goods produced at biscuit and confectionery unit in the fiscal year 2010-2011 totaled Tk. 3.49 billion, representing a 62% increase over the 2009-2010 value of Tk. 2.15 billion. During the fiscal year 2010-2011. Olympic sold 30.4 million pieces of dry-cell batteries. Representing an improvement of 28% from the same period a year ago. Net profit before tax for the battery unit during the fiscal year 2010-2011 was Tk. 29.6 million which is 73% higher than the fiscal year 2009-2010. In the fiscal year 2010-2011, the ballpoint pen unit produced 56.1 million pieces, representing a 38% increase over 40.5 million produced a year ago. The ballpoint pen unit contributed Tk. 167.8 million towards net turnover in the fiscal year 2010-2011 representing a 34% year-over-year increase.

The board of directors is pleased to recommend 10% cash dividend and 50% stock dividend for the year ended June 30, 2011, Of course, the distribution of this dividend shall be subject to the approval of the shareholders at the 32nd annual general meeting.

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