Renata Limited has declared cash dividend of 50 per cent and stock dividend of 20 per cent (Bonus Share 1:5)for the year 2004. The dividend was approved at its 32nd Annual General Meeting held at BIAM Auditorium. Mr. S.H. Kabir, Chairman of the Board presided over the meeting.

The meeting was also attended by the Company’s Managing Director Syed S. Kaiser Kabir, Directors Dr. Sarwar Ali, Md. Ziaul Hoque Khondker, A. Hasant Khan, Sajida Humayun Kabir, Company Secretary Md. Shafiul Alam, senior executives of the company and a large number of shareholders.

The meeting was informed that during 2004, combined turnover and net profit grew by 21.8 per cent and 37.8 per cent, respectively. Cost of good sold improved by 1.7 per cent while Earning Per Share (EPS) stood at Tk.260.79 compared to Tk.227.07 in the year  2003. The year 2004 represented the 8^th consecutive year of growth in profitability.  Renata’s market capitalisation also increased by 204 per cent in the year 2004.

Renata’s pharmaceutical business returned a robust performance in 2004 expanding by 23.2% in a difficult competitive environment.

Despite devastation of the poultry industry in 2004 Renata’s Animal Health retained market leadership and also grew by 13.7% when the market contracted by nearly -10%. Its new injectable products for cattle- Haemovit, Catophos, and Vitaphos gained widespread market acceptance.

The sales of farm disinfectants from Evans Vanodine of the UK began in September 2004. Market response to these high quality products is satisfactory.

In 2004, Contract Manufacturing accounted for 17% of Renata’s  net earnings. It continue to produce ORS formulations for SMC and the BRAC. SMC added Orsaline-N, the latest ORS to be approved by the WHO. In 2004 Renata also manufactured ORS on behalf of UNICEF.

Eskayef Bangladesh Limited renewed their agreement to outsource cephalosporin formulations from Renata. The latest agreement includes three new formulations.

Mr. Kabir said “Several brands from Animal Health and Pharmaceutical businesses are now market leaders in their respective product categories. With a view to entering European markets, we began construction on a world-class facility for hormone tablets in 2004. This plant is expected to be commissioned by the end of 2005. We hope to begin work for European plant approvals in 2006.”

would be eligible from a CGMP (Current Good Manufacturing Practice) perspective to

supply products to most Asian, African, and Middle-Eastern countries,” he stated.