Photo : Collected
Esquire Knit Composite PLC, a readymade garments (RMG) exporter, has decided to invest Tk 50 million in its subsidiary, namely L’Esquire Limited, which specialises in lingerie products.
In a disclosure published on Thursday on the stock exchange website, Esquire Knit’s board approved an investment decision on March 20th as part of their ongoing investment strategy in their subsidiary. This investment aims to capitalize on upcoming export opportunities and ensure profitability and dividends for the company.
Esquire Knit will invest the fund by withdrawing the same amount invested in Impress Capital Limited, where it had invested Tk10 crore.
L’Esquire, incorporated in 2019 as a subsidiary of Esquire Knit Composite PLC, in which the majority, 99.01 percent of shares are owned by Esquire Knit.
The factory is located in Bhaluka, Mymensingh. The company manufactures lingerie, intimates, activewear and sportswear.
Additionally, it produces various garment products including men’s and women’s shirts, trousers, baby dresses, jeans pants, jeans shirts and sportswear.
Esquire Knit Composite got listed on the bourse in 2019, and it produces different types of knit garments.
In the last fiscal year 2022-23, the company made a profit of Tk 8.24 crore and paid a 10% cash dividend to its shareholders. During the first half of the current fiscal year, it reported a consolidated loss per share of Tk 1.10 due to a decline in revenue.
In the same period of the previous fiscal year, the loss per share was Tk 0.51. On Thursday, its share price closed at Tk 25.5 each, reflecting a 3.24% increase from the previous trading session.
Messenger/Disha
