Unilever Consumer Care’s profit rises in Q3
Unilever Consumer Care, formerly known as GlaxoSmithKline, logged higher profits in the July-September period of the current financial year, in contrast to the January-September period when its profits dropped.
The listed multinational company’s third quarterly profits rose around 16 per cent to Tk 16.28 crore, up from Tk 14.05 crore in the same period the previous year.
However, its profits in the nine-month period fell 15 per cent year-on-year to Tk 38.66 crore, down from Tk 45.83 crore.
In the same period, the company’s earnings per share dropped to Tk 32.10 whereas previously it was Tk 38.05.
“Drop in EPS mainly resulted from significant reduction in finance income by Tk 11.33 crore in 2021 compared to that of 2020 due to reduction in interest rate on FDR,” the company said in its explanation of the financial reports.
The company disclosed the data today after a board meeting.
Unilever Consumer Care markets and sells around 400 brands in more than 190 countries. These include nutrition and oral healthcare products, led by brands such as Horlicks and Sensodyne.
In June, Unilever spent about Tk 2,020 crore to buy more than 82 per cent of GlaxoSmithKline’s (GSK) health food and drinks business in Bangladesh from Setfirst, a corporate director of the company.
Earlier in 2018, GSK Bangladesh, a subsidiary of the British multinational company GSK Plc, shuttered its 60-year-old pharmaceuticals business in Bangladesh.
The company was listed with Dhaka Stock Exchange in 1976 and has disbursed 440 per cent cash dividend for last year.