Most of the listed textile, knitting and garment companies saw their earnings per share (EPS) creep up in the first quarter of the current financial year (2018-19) thanks to higher export growth.Of the 53 listed companies, 30 saw their EPS — an indicator of profitability — rise between the months of July and September, while 17 saw theirs decline, according to data from the Dhaka Stock Exchange. One company’s EPS stayed the same.The garment sector’s exports soared during the quarter, so most of the companies’ profits rose, said Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association.“Buyers from many countries are coming to Bangladesh as our remediationprogramme is almost complete.”Garment shipments increased 14.66 percent, according to data from the Export Promotion Bureau.The export growth may continue in the coming months if the business environment remains favourable, said Rahman, also the managing director of Sterling Denims. DSE data shows some of the textile companies saw a decline in their EPS during the quarter, while some of them even fell into losses.The price of cotton had soared in the international market but the yarn price did not rise in the local market, said Md Abdullah Bokhari, chairman of AlhajTextile.Cotton price varied from 77 to 90 cents in the July-September quarter, according to Business Insider. Just few months earlier, in November 2017, it was 70 cents.Moreover, the utility bill rose, so we had to incur losses.”SinceAlhaj Textile does not export it was most affected, headded.Alhaj Textile’s EPS stood at Tk 0.13 in the negative in the first quarter, in contrast to Tk 0.21 a year earlier.Anlima Yarn, another textile company, saw its EPS sink to a negative territory: it stood at Tk 0.03 in the negative. Mozaffor Hossain Spinning Mills also saw a negative EPS of Tk 0.12, which was Tk 0.29 a year earlier.
