Spinning mills in Bangladesh are posting stellar profit growth

Spinning mills in Bangladesh are posting stellar profit growth. The price they are commanding has outgrown costs amid an increase in sales, especially for spinners who produce comparatively higher value yarns.

The profitability cycle began a year ago when Bangladeshi apparel exporters began to receive abundant orders from global buyers amid a disrupted supply chain worldwide. Except some with special problems or negative legacies, most publicly listed textile and spinning companies posted business growth for the 2020-21 fiscal year. Apparently, the trend is to continue in the first quarter of this fiscal year too.