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Golden Harvest to increase investment in Domino’s Pizza

FE Online Report | Published: October 01, 2019 12:38:23 | Updated: October 02, 2019 12:54:29


Harvest Agro Industries Ltd has decided to increase its equity investment in Domino’s Pizza through its associate company -- Golden Harvest QSR Ltd.

The Golden Harvest QSR Ltd will invest Tk 110 million in Domino’s, out of which 30 per cent or Tk 33 million will come from Golden Harvest Agro Industries Ltd, according to an official disclosure on Tuesday.

By the investment the Golden Harvest Agro Industries is expecting a net profit of Tk 50 million in first year, the disclosure said.

On March 7, 2018, a joint venture company -- Jubilant Golden Harvest Ltd -- was formed by Jubilant FoodWorks Ltd (JFL) which owns Domino’s Pizza chain in India and Golden Harvest QSR Ltd, to set up stores in Bangladesh.

Domino’s Pizza was officially launched on 15 March, 2019 with the grand opening of its first restaurant in Rangs Fortune Square, Dhanmondi in Dhaka.

Each share of Golden Harvest Agro Industries, listed on Dhaka Stock Exchange in 2013, closed at Tk 31 on Monday.

In the nine months for July 2018-March 2019, earning per share (EPS) of the company was Tk 1.55 as against Tk 1.13 for July 2017-March 2018.

The company disbursed 10 per cent stock dividend in 2018.

The company’s paid-up capital is Tk 1.19 billion and authorised capital is Tk 2.50 billion, while the total number of securities is 119.90 million.

The sponsor-directors own 33.03 per cent stake in the company, while the institutional investors own 46.81 per cent, and the general public 20.16 per cent as on August 31, 2019, the DSE data shows.

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