Unilever Consumer Care’s profit surges 32%

by fstcap March 10, 2024

March 10, 2024

Profits of Unilever Consumer Care surged around 32 percent in 2023 thanks to the efficient use of operating expenses and increase in finance income.

The listed nutrition, hygiene and personal care brand company saw its earnings per share to rise to Tk 49.89 last year from the previous year’s Tk 37.9.

Based on the earnings, the board of directors of the multinational company recommended 300 percent cash dividend for its shareholders.

The company issued the price sensitive information after a board meeting taken place today.

In 2022, Unilever declared 240 percent cash dividend and 60 percent stock dividends.

The company’s profit grew in 2023, but sales dropped. However, its net asset value per share rose 40 percent year-on-year to Tk 122 last year.

Despite significant increase in raw and packing material costs and drop in revenue, the EPS improved due to efficiency in operating expenses, significant increase in net finance income and one-off benefit coming out of reassessment of past liabilities and obligations, the company said.

One-off waiver of technology and trademark royalty granted by the parent company for 2023 also contributed to booking higher profits this year, it added.

Shares of Unilever Consumer Care, former GlaxoSmithKline, rose 0.27 percent to Tk 2,219 today at the Dhaka Stock Exchange.

source: unilever consumer limited bangladesh products

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