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Sea Pearl Beach Resort & Spa Limited posted a 334 per cent surge in its profit for the fiscal year 2023, compared to the previous fiscal, as tourism industry made a recovery from the hardships of the COVID pandemic.
The company has reported a net profit of Tk 701.56 million for FY'23, up from Tk 161.81 million in the year before.
According to the company, its profit has increased remarkably as tourism bounced back following the improvement in COVID situation.
Due to a surge in tourism, utilisation of the hotel rooms at the resort has increased and its water park was in full operation throughout the year, generating extra revenue, said the company.
Revenue from the cruise ship and non-AC restaurant has also increased, it added.
At a meeting on Thursday, the company's board of directors recommended 17 per cent cash dividend only for general shareholder, excluding sponsors and directors, for FY'23, the highest since its 2019 listing.
The company's earnings per share stood at Tk 5.81 for FY'23, as against Tk 1.34 for the previous fiscal year, according to a stock exchange filing.
Its net asset value per share stood at Tk 16.82 for FY'23, up from 11.77 a year earlier. And the net operating cash flow per share (NOCFPS) went up to Tk 8.27 in FY'23 from Tk 3.48 a year ago.
The stock closed at Tk 189.70 on Dhaka Stock Exchange on Thursday.