Unilever Consumer Care's profit up 32pc on finance income

Unilever Consumer Care has reported a 31.61 per cent year-on-year growth in profit to Tk 961.59 million for 2023, backed by finance income and a one-off benefit.
Its earnings per share (EPS) jumped to Tk 49.89 for the year, up from Tk 37.90 for 2022. The board of directors has recommended 300 per cent cash dividends for 2023.
The company distributed 240 per cent cash dividends and issued 60 per cent stock dividends for 2022.
As the company made the disclosure for 2023, it became the number two loser on the Dhaka Stock Exchange (DSE). The stock declined 7.51 per cent to Tk 2052.20 per share on Sunday on the premier bourse.
Apart from an increase in the cost of raw and packaging materials, the company experienced a drop in revenue in 2023.
Masud Khan, chairman of Unilever Consumer Care, said the revenue was down during the year, as consumers' purchase capacity declined due to high inflation.
Profit went up because of operating efficiency and a significant rise in finance income, he said.
The one-off benefit, from a reassessment of past liabilities and obligations and a one-off waiver of technology and trade mark royalty granted by the parent company for the year, also played a positive role.
The company has not disclosed figures of finance income, revenue and operating expenses because of the bar on publishing those before the record date.
Its net asset value per share (NAVPS) stood at Tk 122.21 for 2023, increased from Tk 87.25 for the previous year.
It rose due to increased balance of cash and cash equivalents along with one-off benefits from the reassessment of past liabilities.
The net operating cash flow per share (NOCFPS) rose 35 per cent year-on-year to Tk 25.43 in 2023.

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