RAK suspends production of a tiles plant

RAK Ceramics (Bangladesh) has suspended production of a tiles plant, out of four, due to the maintenance work of the machinery of tiles production plant.

The UAE-Bangladesh joint venture company stopped production of number-1 tiles plant for 46 days starting from Tuesday to January 25, 2019, according to a web news posted on the Dhaka Stock Exchange (DSE) on Tuesday.

"All other plants of tiles and sanitary ware of the RAK Ceramics (Bangladesh) will continue as usual," said the disclosure.

Each share of the company, which was listed on the Dhaka bourse in 2010, closed at Tk 38.30 on Tuesday, losing 2.05 per cent.

In the last one year, its share traded between Tk 35.10 and Tk 62.20.

The company disbursed 10 per cent cash and 10 per cent stock dividend for the year ended on December 31, 2017.

The company's consolidated earnings per share (EPS) stood at Tk 0.55 for July-September 2018 as against Tk 0.69 for July-September 2017.

In nine months for January-September 2018, its EPS was Tk 1.54 against Tk 1.95 for January-September 2017.

Its paid-up capital is Tk 3.89 billion and authorised capital is Tk 6.0 billion, while the number of securities is 389.06 million.

The sponsor-directors own 72.08 per cent stake in the company, while institutional investors own 14.50 per cent, foreign investors 0.10 per cent and the general public 13.32 per cent as on November 30, 2018.

RAK Ceramics is the leading manufacturer of high quality ceramic wall, floor tiles, gres porcellanato and sanitary wares products in Bangladesh.

Started commercial production in 2000, the company brought a drastic change in the tiles industry and has over 2,500 models active in the ceramic and porcelain tile business and regularly adds several new designs to the product portfolio.

Currently, the company's annual production capacities are 11.68 million square meters of tiles and 1.45 million pieces of sanitary ware, according to its website.

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