Advanced Chemical Industries Ltd held its 41st Annual General Meeting on Tuesday (10 June 2014) at the Officers Club in the city. The meeting was presided over by ACI Chairman Mr. M. Anis Ud Dowla.
The shareowners approved the proposal of declaration of dividend @ 105% which include Tk. 8.5 per share (85%) as cash dividend and 20% as stock dividend i.e. 1 share against each 5 shares for the year 2013.
The Managing Director informed the shareowners that the Company performance improved due to focus on internal efficiency and productivity which resulted improvements in margins, inventory and credit management were evident. He further added that service performance of the Company was improved and closely aligned with business needs. Backward linkage and supplier engagements for value creation also helped strengthen the inbound logistics of Company business.
In the year 2013, ACI Limited registered a 10% growth in revenue from its own operation compared to 2012. Pharmaceutical business achieved a significant improvement in exports and brought in some new technology into ACI’s portfolio. Consumer Brands business continued to their brand building activities and strengthens their distribution network. Agribusinesses performed much better than the previous year, and faced a better agricultural environment. First time in Bangladesh bird flu vaccine from ACI has also contributed to the image, strength and performance of agribusinesses. Logistics improved the quality of the business, and develop a lifestyle clothing brand called “Shwapno Life”. ACI have a new distribution partnership with the world’s number one paint company Akzo Nobel with the Dulux brand.
The Managing Director thanked the partners of ACI, shareowners, suppliers, customers, bankers, media and all other well wishers for their support and patronage to bring ACI to this level and wished for their continued support to fulfill ACI’s mission to improve the lives of people.