It is a broadly described annual report of Matin Spinning Mills Limited in the year of 2017. The Company contributed Tk. 62.09 million during 2016-2017 to the National Exchequer. The Company contributed Tk. 728 million to the Foreign Exchange Reserve of the Country during the FY 2016-2017 through its export marketing operation. During the financial year 2016-2017, The Company achieved the satisfactory level of sales revenue of Tk. 3,001,195,559 which is 49.67% higher than 2015-2016 (Tk. 2,005,184,987). Net profit after tax decreased by 11.25%, from Tk. 294,475,299 in 2015-2016 to Tk. 261,333,229 in 2016-2017, due to increase in depreciation charges, utility cost, finance cost and the decrease in other income.
The Board of Directors of Matin Spinning Mills Limited, at its 101st meeting held on 06th November 2017 proposed Tk. 1.5 per share amounting to a total of Tk. 146,235,000 as cash dividend for the year ended 30th June 2017, which represents @15% of the paid up Capital. 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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