Reckitt Benckiser Bangladesh's profit after tax jumped more than 53 per cent in April-June, 2020 quarter due to strong revenue growth driven by increased demand of personal hygiene products during pandemic.
The board of directors of the company in a virtual meeting on Sunday approved the un-audited financial statements for April-June, 2020 period.
Reckitt Benckiser is engaged in manufacturing and marketing of household and toiletries, pharmaceuticals and food products.
The personal care products manufacturer's profit after tax rose to Tk 158 million in April-June, 2020 which was Tk 103 million in the same quarter of the previous year.
In six months for January-June, 2020, the company's profit after tax was Tk 271.73 million as against Tk 176.14 million for January-June, 2019.
Accordingly, the company's earnings per share (EPS) jumped to Tk 33.47 for April-June, 2020 as against Tk 21.82 for April-June, 2019.
In six months for January-June, 2020, the company's EPS was Tk 57.51 as against Tk 37.28 for January-June, 2019.
The net operating cash flow per share (NOCFPS) was Tk 211.98 for January-June, 2020 as against 72.22 for January-June, 2019.
The net asset value (NAV) per share was Tk 200.15 as on June 30, 2020 and Tk 142.64 as on December 31, 2019.
The company officials said EPS increased due to strong revenue growth driven by increased demand of personal hygiene products during pandemic.
The company also declared a record 1250 per cent cash dividend for the year ended on December 31, 2019.
When the Covid-19 pandemic has sent most of the companies' profit plummeting, the Reckitt Benckiser's profit soared due to brisk business amid ongoing pandemic in Bangladesh, said a merchant banker.
He noted that people are buying its products as experts suggest people to keep their hands germ-free to prevent coronavirus.
Listed in 1987, each share of the Reckitt Benckiser closed at Tk 3,573.70 on Monday, losing 2.29 per cent over the previous day.
Its share traded between Tk 2,330 and Tk 3,775 in the last one year.
The company's paid-up capital is Tk 47.25 million, authorised capital is Tk 250 million and the total number of securities is 4.72 million.
