Bangladesh’s textile sector leader, Envoy Textiles has registered a 139.8 per cent year-on-year to clock in a turnover of BDT 51.45 crore during October-June. Experts explain that higher utilisation led to volume growth, and year-on-year margin improvements drove the stellar performance of the company.
Envoy’s top line has grown by 47.8 per cent in the first half, despite a 5.5 per cent fall in cotton prices over the same period in the international market.
The company’s recent expansions gave scale benefits to the company, making it the main driver of the strong performance. The expansion project came into operation in the second quarter that increased production capacity by 35 per cent to 5 crore yards a year from 3.7 crore yards, but operations began in full swing from the third quarter, it added.
