Annual Report 2014 of Gemini Seafood Limited

It is a broadly described annual report of Gemini Seafood Limited in the year of 2014. Gemini Sea Food Ltd. as a Publicly Traded Company; hence the applicable tax rate is 27.50%. All income of the company comes from export sales and AIT was deducted by the bank on the sale proceed. Income of the company assessed u/s 82 (c) of the ITO 1984. Considering the AIT as final tax liability and as the tax is already paid it is charged in the Income Statement. The company has achieved an export turnover of Tk. 95.45 Crore during the year ended 30th September 2014. Last year’s turnover was Tk. 76.70 Crore. The increase in turnover is 24.46%. Gross profit TK. 7.46 Crore has been earned during the year as against last year’s gross profit of Tk. 5.98 Crore. Net profit (after tax) earned during the year was 15.33 Lacs as compared to last year’s net loss (after tax) of Tk. 1.69 Crore.

In consideration with the investment of honorable Shareholders, the Board of Directors has recommended cash Dividend of TK.8, 25,000/- at the rate of 11c. 0.75 Per share of Tic. 10.00 for the year of 2013-14 i.e. 7.5% on paid-up Capital of the Company. The financial performance has comparatively been improved during this year mainly due to higher sales.