Unilever Consumer Care’s profit surges 79pc

Unilever Consumer Care Ltd, a subsidiary of Unilever in Bangladesh, posted a 78.66 per cent year-on-year increase in profit in the April-June quarter of 2022. 

The profit for the period stood at Tk 18.06 crore, up from Tk 10.10 crore a year ago, according to its financial statements. 

The earnings per share were Tk 14.99 in the quarter compared to Tk 8.39 in the same period a year ago, Unilever Consumer Care said in a filing on the Dhaka Stock Exchange yesterday.

The company, which focuses on the consumer healthcare nutrition business, credited the efficiency in operating expenses, the reduction of corporate income tax rate as well as large one-off benefit coming out of reassessment of past liabilities and obligations in light of recent business development to the increase in the EPS.

Unilever Consumer Care made a profit of Tk 35.31 crore in the first half of 2022, an increase from Tk 22.38 crore registered in the same period last year.

Its net operating cash flows, a measure of a firm's financial strength, however, fell to Tk 13.22 per share in the first half against Tk 13.68 in the January-June period of 2021, due to the lower advance received from customers compared to a year ago.

Similarly, the net asset value per share decreased to Tk 108.20 on June 30 of 2022 owing to the reduction in cash balance resulting from the dividend payout. It was Tk 122.88 on December 31, Unilever Consumer Care said.

Shares of Unilever Consumer Care closed 1.29 per cent higher at Tk 2,860 on the DSE yesterday.