BP Business Desk
The 46th Annual General Meeting (AGM) of Berger Paints Bangladesh Limited was held at Golf Garden, Dhaka on Wednesday.
Gerald K. Adams, chairman, Berger Paints Bangladesh Limited presided over the meeting. Managing Director Rupali Chowdhury along with other directors Anil Bhalla, K. R. Das, Jean-Claude Loutreuil, Anis A. Khan, Masud Khan, Rishma Kaur, Kanwardip Singh Dhingra, Abhijit Roy, Parveen Mahmud and Abdul Khalek also attended the meeting, said a press release.
Gerald K. Adams presented the directors’ report, auditors’ report and audited financial statements for the year ended March 31, 2019 before the shareholders. Rupali Chowdhury replied to the shareholders’ queries.
250 percent cash dividend was declared for 2018-2019 in the meeting. During the year ended March 31, 2019, net profit growth was 16.84 percent whereas sales growth was 7.58 percent. This was the result of continuous efforts to optimize cost while gaining market share. Because of increase of raw materials price, cost of sales was 55.92 percent of net sales in 2018-19 compared to 55.38 percent of previous year. Total expenditure of 2018-19 period reduced to 28.63 percent of net sales compared to 30.50% of previous year.
Moreover, during the year, Berger Paints Bangladesh Limited received Top VAT Payer Award under manufacturing category from the Government of Bangladesh. Berger Paints Bangladesh Limited also received ‘ICMAB Best Corporate Award 2017’ in the category of multinational manufacturing industries for its sales & financial performance, contribution to national exchequer, HR management, corporate governance, shareholders’ return, investment growth and CSR activities. Berger Paints has won auspicious “Best Brand Award” in paint category for the 8th consecutive year.
