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Mohammad Tarequzzaman
The business of National Housing Finance and Investment Limited, a listed company, has not performed excellent at all in the outgoing year. The company invests in business as well as other businesses in the hope of making more profit. However, company sources said that the total profit of the company was not as expected as other businesses did not produce the expected results in the outgoing year.
Dhaka Stock Exchange (DSE) reveals that National Housing Finance and Investment Limited has made a net profit of Tk 26 crore 12 lakh 90 thousand in the outgoing year, i.e. for the year ended 31 December 2021. At the same time last year, the company net earnings were 32 crore 13 lakh 90 thousand taka. The company’s net profit has decreased by Tk 6 crore 1 lakh in one year. For the year ended 31 December 2020, the company’s earnings per share (EPS) was 2.75. In the outgoing year i.e. 31st December 2021, the company’s EPS has been 2.23. The company’s revenue has decreased by Tk 0.52 in one year.
Sarwar Kamal, Secretary of the National Housing Finance and Investment Limited said “We haven’t been able to do well where we invested outside of the core business.” “Our business did not do well there. Which has a bad effect on our net profit”, he added.
Meanwhile, the sponsoring directors are withdrawing investment from the company. This is not a good sign at all for investors and the capital market, experts opined.
National Housing has approved a 16 percent cash dividend for the year ended December 31, 2021. The company had announced a 15 per cent cash dividend at the same time last year. The total shares of the company are 11 crore 70 lakh 31 thousand 200. Sponsor directors hold 52.88 per cent, general investors hold 26.65 per cent, government holdings have 9.34 per cent and institutional holdings have 11.13 per cent.
On April 7, the closing price of the company was 45.40 taka. The company’s share price has fluctuated between Tk 28.20 and Tk 94.90 in the last 52 weeks. On March 8, the company’s closing price was 44.8 taka. For the year ended 31 December 2020, the sponsoring directors held 60.69 percent stake in the company; And on March 31, 2022, that share stood at 52.88 percent. In other words, the shares of the sponsoring directors in the company have decreased by 7.91 percent in just over a year.