Reckitt Benckiser’s profit 25% higher this Jan-Jun

The UK-based multinational Reckitt Benckiser (Bangladesh) PLC has posted a 25% year-on-year profit growth in the first half of 2023, thanks to a significant decrease in the company's operating expenses. 

At the end of this June, its net profit stood at Tk29.9 crore. Also, the company's revenue grew 6.63% to Tk267.83 crore in the January to June period this year, compared to the same period last year. 

The company's half-yearly earnings per share (EPS) stood at Tk63.29 in 2023, which was Tk50.68 last year. 

In its financial statements, the company said though the cost of goods sold increased year-on-year, Reckitt Benckiser (Bangladesh) saved a lot in its marketing expenses which in turn reduced its operating expense, and this helped the company post higher EPS. 

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 had paid the highest ever 1,650% cash dividend in its history.

Reckitt Benckiser (Bangladesh), publicly listed with the Dhaka Stock Exchange (DSE) since 1987, is a subsidiary of Reckitt Benckiser Group — the world's leading producer of hygiene products.

Among all listed companies in the stock exchange, Reckitt's shares are the most valuable at present, trading at Tk4,813.5 each.

In 2021, the company saw profit growth amid pandemic mainly because of its increased sale of health and hygiene products during Covid-19. 

But in 2022, the company's health and hygiene product sales decreased owing to the easing of the pandemic situation. Its profit also fell because of the high price of raw materials, and appreciation of the dollar.