Message From The Chairman
In spite of having huge challenges in textile sector in the reporting period, the Board of Directors has shown a stable & strong commitment to its valued shareholders and proposed a commendable 40% cash dividend……
Ladies and Gentlemen
It is our pleasure to welcome you at the 21st Annual General Meeting of Matin Spinning Mills PLC. 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 2023.
We are very pleased to inform you that we achieved EPS BDT 4.38 during the year 2022-2023 considering the contemporary textile markets huge volatility & reduction of yarn sales price comparing to the previous year. In addition to reduction of sales price we have faces huge challenges in increase of cost of goods sold at 22.63% due to increase in power & fuel cost, raw material cost, finance cost, foreign currency exchange loss as well as other cost over the last year. In spite of having huge challenges in textile sector in the reporting period, the Board of Directors has shown a stable & strong commitment to its valued shareholders and proposed a commendable 40% cash dividend.
We would also like to thank all of 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.
Chairman of the Board