Reckitt Benckiser's profit jumps by 67%
UK-based multinational Reckitt Benckiser Bangladesh posted 67% growth in its profit in the first quarter of 2023 (January to March) owning to fewer marketing expenses.
During the period, the net profit of the company stood at Tk15.21 crore, which was Tk9.10 crore in the same period of the previous year.
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Its earnings per share was Tk32.18, which was Tk19.25 one year ago.
The company said that the cost of goods sold has increased compared to the same period last year. The operating expenses have been reduced significantly due to fewer marketing expenses which created a positive impact on EPS compared to the same period last year.
Net operating cash flow per share has decreased due to an increase in the payment of suppliers and tax payments.
The company's net asset value per share has increased as the current quarter profit has been added to retained earnings which drove the increase in net asset value per share.
The company declared a 980% cash dividend to its shareholders for the year that ended on 31 December 2022, which was 40.6% lower than the previous year.
In 2021, it paid the highest-ever 1,650% cash dividend in its history.
