The country’s leading paint manufacturer will use eco-friendly sanitising agents, smart tools and trained applicators,and provide the service to all interested parties as part of its business diversification
Berger Paints Bangladesh is going to introduce expert sanitisation service to ensure a clean and germ-free environment at offices, commercial spaces, residences and government buildings.
The service is expected to be launched this month. Berger is the first company to introduce the service in the country.
The country's leading paint manufacturer will use eco-friendly sanitising agents, smart tools and trained applicators,and provide the service to all interested parties as part of its business diversification.
An official of the Berger Paints Bangladeshsaid from this service, they expect an annual revenue of Tk1.50 crore with a 30 percent profit margin.
He added that they would provide sanitisation service to the dealers to ensure safe environment in their shops, facilitate trained painters to earn extra money through this sanitisation service, and to offer sanitisation service to the end customers to ensure safe environment while taking express painting service.
Earlier on June 30, the company launched hand sanitisers under its existing brand - Mr Expert –amid a spike in demand for the cleaner itemsamid the coronavirus pandemic.
The company confirmed the matter in response to a query by the Dhaka Stock Exchange.
According to the DSE website, the expected turnover of Berger Paints from Mr Expert hand sanitiser is Tk1 crore in the 2020-21 financial year.
Berger Paints has recommended a 295 percent cash dividend for its shareholders in the 2019-20 financial year.
The company will hold its annual general meeting on July 28 where the dividend and the audited financial report will be finally approved.
The board of the company has also decided to invest Tk7.60 crore in ordinary shares of Berger Fosroc Ltd to fund the establishment of a factory.
Berger Fosroc is a joint venture between Berger and Fosroc International Ltd that manufactures and sells chemicals for constructions. Berger has a 50 percent share in the venture.
Berger's sales have increased on average 11 percent annually over the last six years, and it maintained the pace during the 2019-20 financial year.
During this period, the company's earnings per share grew by 18 percent to Tk52.22, riding on declining prices of raw materials in the international market.
In the fourth quarter of the 2019-20 financial year, the earnings per share of the company decreased by 2 percent due to the lack of sales amid the Covid-19 pandemic.
Berger paid its shareholders a 250 percent cash dividend in the 2018-19 financial year. In the previous financial year, it paid 200 percent cash and 100 percent stock dividends.
The company was listed on stock market in 2006, with a paid-up capital of Tk46.37 crore.
The J&N Investments (Asia) Ltd holds 95 percent shares of Berger while institutional, foreign and general investors hold 2.45 percent, 1.14 percent and 1.41 percent respectively.