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Summit Alliance Port has reported its highest-ever annual profit of Tk 675 million for FY25, marking a significant increase driven by higher revenue from container handling in export, import, and freight services.
The company, a market leader in the Inland Container Depot (ICD) and Container Freight Services (CFS) industry, saw a 63 per cent year-on-year growth in profits. In FY24, Summit Alliance had earned a profit of Tk 414 million.
The company's consolidated earnings per share (EPS) for FY25 stood at Tk 2.85, up from Tk 1.75 in the previous year, according to price-sensitive information released on Thursday.
Reflecting the record profit, the board of directors declared the highest-ever cash dividend -- 18 per cent -- for FY25, compared to a 15 per cent cash dividend paid in FY24.
Shareholders will receive Tk 1.80 per share, with the company set to disburse a total of Tk 426 million in cash dividends for the year whereas it earned a profit of Tk 675 million in the year.
The company is yet to disclose the annual revenue figures. However, its revenue for nine months through March this year jumped fourfold year-on-year to Tk 6.12 billion, up from Tk 1.48 billion in the same period last year.
Summit Alliance Port's revenue surged significantly as the company started freight forwarding and shipping agency business through its subsidiary from July last year.
Container Transportation Services Limited (CTSL), a subsidiary of Summit Alliance Port, has started freight forwarding and shipping agency business as the local agent of Hellmann Worldwide Logistics (Hellmann).
"A positive reflection of this new business was visible in the last financial statements of the company," said the company in its earnings note.
German logistics giant Hellmann Worldwide also acquired a 40 per cent stake in Summit Alliance's freight forwarding and shipping agency business in January this year.
The strategic partnership also enhanced Summit Alliance's global reach and operational capabilities, aligning with Hellmann's goal of expanding its footprint in South Asia.
The annual general meeting (AGM) of the company will be held on December 23 while the record date for entitlement of dividend is on November 27.
The net operating cash flow per share, a measure of a company's ability to generate cash from its operations, stood at Tk 3.84 per share, up from Tk 2.45 in the previous year.
The net asset value, which refers to the excess of total assets over total liabilities, reached Tk 35.67 per share for the year, up from Tk 33.71 last year due to higher profit.
Its stock price on the Dhaka Stock Exchange closed at Tk 47.4 on Thursday.
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