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Reckitt Benckiser gained 21 per cent year-on-year profit growth to Tk 246 million in the third quarter through September this year, owing to higher sales and lower finance costs.
That marks a turnaround, as the company's business had remained sluggish since 2021 after the pandemic waned, followed by the Russia-Ukraine war leading to an economic meltdown.
Earnings per share (EPS) of the UK-based multinational firm, which sells health and hygiene-related products, stood at Tk 52.22 for the July-September quarter, up from Tk 43.13 in the same quarter last year.
Earlier, its annual profit dropped 8.3 per cent year-on-year to Tk 752 million in 2024. Despite lower profit, it paid a 3,330 per cent cash dividend for 2024.
The board of directors approved the latest unaudited quarterly financial statements at a meeting on Monday.
The company's sales grew 11 per cent year-on-year to Tk 1.49 billion in the quarter to September this year.
Another factor that boosted profits was a reduction in finance expenses after the clearance of high-cost short-term loans amounting to Tk 69.32 million. Finance costs were reduced nearly six-fold to Tk 7.35 million in the quarter.
Its nine-month profit also rose 8.5 per cent year-on-year to Tk 540 million in the January-September period this year, while revenue surged 7 per cent to Tk 4.30 billion during the time.
The growth is significant against the backdrop of the prevailing challenging economic environment and high inflation, when many local companies are struggling to survive.
Reckitt Benckiser's top-selling products are hygiene-related items such as Dettol and Harpic. They are also household names in these categories.
The stock of Reckitt Benckiser, however, dropped 0.06 per cent to Tk 3,359.5 per share on Monday, though it still remains the most-valued stock in the secondary market.
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