Reckitt Benckiser profit rises 21pc on higher revenue, finance income

Reckitt Benckiser (Bangladesh) has reported a 21 per cent year-on-year growth in profit to Tk 0.52 billion for January-September this year, driven by higher revenue and a significant jump in finance income.

The rise in profit helped the company to see an increase in net asset value. The net asset value per share (NAV) went up to Tk 189.62 as of September this year from Tk 176.80 until the end of last year.

The year-on-year cost of sales remained unchanged at Tk 2.09 billion for the nine-month period.

On the other hand, finance income soared 223 per cent to Tk 17.81 million during the time, compared to the same period last year.

Company secretary Md. Nazmul Arefin refused to make any comment on the company's financials.

The earnings per share (EPS) of Reckitt Benckiser (Bangladesh) stood at Tk 110.82 for January-September, increased from Tk 90.52 for the same period a year earlier.

Of the three quarters to September this year, the company saw a robust year-on-year profit growth of 67 per cent in January-March, while profit declined at 0.8 per cent year-on-year in the second quarter ended in June before it jumped again at 19 per cent year-on-year in July-September.

The company's operating cash flow also remained almost unchanged year-on-year.

The net operating cash flow per share (NOCFPS) was estimated at Tk 197.22 for January-September, which was Tk. 197.38 for the same period a year ago.

The sponsor-directors hold 83 per cent shares in the company, while the government has a stake of 3.77 per cent, institutes have 4.61 per cent, foreigners 2.78 per cent, and general investors 5.88 per cent.

The company distributed 650 per cent to 1650 per cent dividends between 2015 and 2022. The stock of Reckitt began moving above the floor on April 27 and peaked at Tk 4,970.4 on June 5.

After exhibiting frequent ups and downs, the stock returned to the floor on October 2 and has been stuck there since.

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