Annual Report 2012 of Olympic Industries Limited

It is a broadly described annual report of Olympic Industries Limited in the year of 2012. During the fiscal year ended June 30, 2012, Olympic Industries Limited contributed Tk. 981,820,462 to the National Exchequer in the form of value-added tax, income tax and customs duties which equate to 16.35% of the annual net turnover of the company. The value of goods produced at biscuit and confectionery unit in the fiscal year 2011-2012 totaled Tk. 5.43 billion, representing a 55% increase over the 2010-2011 value of Tk. 3.49 billion. Net turnover from this unit represented over 90% of total net turnover in this fiscal year and the previous fiscal year. Dry-cell battery sales during the fiscal year 2011-2012 generated the net turnover of Tk. 273.3 million, representing a 22% increase from the 2010-2011 net turnover of Tk. 223.3 million. During the fiscal year 2011-2012, Olympic sold 39.3 million pieces of dry-cell batteries, representing an improvement of 29% from the same period a year ago. Net profit before tax for the battery unit during the fiscal year 2011-2012 was Tk. 28.7 million, which is 3% lower than the previous period. In the fiscal year 2011-2012, the ballpoint pen unit produced 90.6 million pieces, representing an impressive 61% increase over the 56.0 million pieces produced a year ago. The ballpoint pen unit contributed Tk. 297.6 million towards net turnover in the fiscal year 2011-2012 representing a 77% year-over-year increase over Tk. 167.8 million reported a year ago.

The board of directors is pleased to recommend 10% cash dividend and 50% stock dividend for the year ended June 30, 2012. Of course, the distribution of this dividend shall be subject to the approval of the shareholders at the 33rd annual general meeting.

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