Annual Report 2017 of Olympic Industries Limited

It is a broadly described annual report of Olympic Industries Limited in the year of 2017. During the financial year ended on 30^th June 2017, Olympic contributed Taka. 2,321,656,992.00 to the National Exchequer in the form of Value Added Tax, Advance Income Tax, Local Purchase VAT, Service VAT and Customs Duty, which equates to 20.56% of the company’s annual revenue. This year’s contribution represents a 7.80% increase from the previous year. The Company’s net assets grew by Tk. 881.58 million in the year ended 30^th June 2017, to Tk. 5.41 billion this year representing a year over year increase of 16.29% from Tk. 4.53 billion a year ago. During the same period, gross profit increased by 2.08% to Tk. 3.77 billion and net profit after tax increased by 1.20% to Tk. 1.64 billion. The Company’s net profit after tax this year was Tk. 1.64 billion as compared to Tk. 191.17 million in 2009-2010, representing a 759.58% increase over the eight-year period.

The Board of Directors is pleased to recommend @45% cash dividend i.e. Tk. 4.50 (Taka four and fifty paisa) for every ordinary share of Tk. 10.00 for the year ended 30^th June 2017. 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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