Message From The Chairman | Matin Spinning Mills Limited | Your Slogan Here

Message From The Chairman

Dear Shareholders
Ladies and Gentlemen
Assalamu Alaikum,

Chairman PhotoWe have the pleasure to welcome you at the 15th Annual General Meeting of your Company Matin Spinning Mills Limited. It also gives me immense pleasure to place before you the Annual Report along with the Audited Financial Statements, Auditors’ Report and Directors’ Report thereon for the year ended on 30 June 2017.

We delightfully inform you that despite challenging local and international market and a highly competitive industry, during the year 2016-2017 the company achieved 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 decrease in other income.

It is my pleasure to inform you that Synthetic yarn project in phase-2 started commercial production from 7th February, 2017 with capacity of 16 tons per day.

I would also like to take this opportunity to thank all our valued customers for their confidence in our products, to the employees for their tireless efforts, to the suppliers for their quality cotton, to our honorable shareholders for their continuous support and interest for the welfare of the Company, to the Regulatory Bodies including Bangladesh Securities and Exchange Commission, to the Stock Exchanges, to the Central Depository Bangladesh Limited, to the Bankers, to the Insurers for their cooperation and support to our Company. We hope that the same support from all stakeholders would continue in the coming years.

With best wishes,

Abdul Wahed
Chairman of the Board

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