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Kanti Biswas, Sujan
- Comparison of Profitability of Listed Pharmaceutical Companies of Bangladesh
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Authors
Affiliations
1 Department of Accounting and Information Systems, University of Chittagong., BD
2 Chittagong University of Engineering & Technology (CUET)., BD
3 Department of Management Studies Premier University., BD
1 Department of Accounting and Information Systems, University of Chittagong., BD
2 Chittagong University of Engineering & Technology (CUET)., BD
3 Department of Management Studies Premier University., BD
Source
Journal of Commerce and Accounting Research, Vol 2, No 2 (2013), Pagination: 33-38Abstract
Pharmaceutical industry is technologically the most advanced manufacturing industry in Bangladesh and the third largest industry in terms of contribution to government's revenue. The industry contributes about 1% of the total GDP. There are about 250 licensed pharmaceutical companies in Bangladesh. Currently a little over 100 companies are in production. According to IMS, a US-based market research firm, the retail market size is about BDT 84 billion as on 2011. Based on IMS report for the fourth quarter 2011, Square pharmaceutical holds the top market share in the retail market (18.7%), followed by Incepta and Beximco pharmaceutical. This sector fulfills 97% of the local medicine requirement. Besides, it is exporting chemicals and pharmaceutical products to global market including European market. The professional think tank, quality management, innovative ideas, government support are the key factors for the development of this sector. Hence the present study reports the profitability of two listed pharmaceutical companies of four year accounting period from 2008 to 2011. The analysis shows that average profitability indicators for Square are higher than Beximco, except gross profit ratio and operating profit ratio. On the other hand, the six other profitability indicators of Square are much higher than that of Beximco and go with the industry norm. Beximco has not been able to attain industry average net profit ratio, return on investment and return on equity, cash flow margin and cash return on assets.Keywords
Profit, Profitability Indicators, Square And Beximco Pharmaceutical Industry
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Abstract Views :262 |
PDF Views:2
Authors
Affiliations
1 Department of Management Studies, University of Chittagong, Chittagong., BD
2 Department of Management Studies, Faculty of Business Studies, Premier University, Chittagong., BD
1 Department of Management Studies, University of Chittagong, Chittagong., BD
2 Department of Management Studies, Faculty of Business Studies, Premier University, Chittagong., BD
Source
Journal of Commerce and Accounting Research, Vol 2, No 3 (2013), Pagination: 50-61Abstract
Remittances have been emerged as a key driver of economic growth and poverty reduction in Bangladesh, increasing at an average annual rate of 19 percent in the last 30 years (1979-2008) (Hussain and Nayeem, 2009). Although growth in remittances slowed, inflows from that source still climbed by 22.4% to $9.7 billion in FY2009, in view of the jump in workers who went abroad in 2007 and 2008 (and who are sending money back home). Given the substantial improvement in the trade deficit and the continued increase in remittances, the current account surplus ballooned to $2.5 billion (2.8% of GDP), from $680 million in FY2008 (Bangladesh Bank Annual Report, 2007-08). Foreign remittance earning is an important phenomenon in the economy of Bangladesh. The role of income of expatriate workers in macro-economic stability and future socio-economic development is gradually being recognized by the policy-makers of the country. Foreign remittance, for example, is helping to lessen Bangladesh's trade deficits, resulting surplus in current account balance. Foreign remittance is also contributing to increase country's international credit worthiness and lead to lower borrowing costs. If financial institutions can secure remittance deposits they can increase their access to and participation in international capital markets, thus enhancing the home country's integration in such markets. This paper has explored role of migrants' remittance in the socio-economic development of Bangladesh from both secondary and empirical study perspectives attempting to obtain a comprehensive understanding of remittance channeling and utilization patterns of migrants at the household level. The study has also been aimed to discover some hidden reasons behind informal channel (Hundi) of remittance transfer, and expenditure/investment portfolios of the migrants' household families in Bangladesh. Moreover, the paper also focuses some policy recommendations and operational measures for increasing the inflow of foreign remittances towards Bangladesh and their dynamic utilization so as to enhance their contribution toward the socio-economic development of Bangladesh.Keywords
Inward Remittance, Migrants, Socio-economic Development of Bangladesh, Dynamics of RemittanceReferences
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