Unilever Consumer Care Ltd. saw a significant 48% drop in profit for the July-September quarter of 2024, with earnings falling to Tk 159.2 million compared to Tk 311.6 million in the same period last year.
According to the company’s disclosure on the Dhaka Stock Exchange (DSE), this decline resulted in earnings per share (EPS) dropping sharply from Tk 16.17 to Tk 8.26.
The company attributed the fall in EPS to lower revenues and the absence of a one-time benefit that boosted last year’s earnings. A newly imposed technology and trademark royalty charge from Unilever’s parent company also placed further pressure on Q3 profits.
Despite the decline, Unilever Consumer Care highlighted efforts in operational efficiency and an increase in net finance income, which helped to offset the impact of these financial pressures partially. However, net operating cash flow per share for the January-September period fell to Tk 7.52, reflecting broader challenges this year.
Formerly known as GlaxoSmithKline Bangladesh, Unilever Consumer Care has been a fixture in Bangladesh’s health food market since 1974, known for popular brands like Horlicks, Boost, and GlucoMax D. After merging with Unilever in 2018, the company has focused on combating malnutrition in Bangladesh through accessible nutrition products, building on its established market presence.
Shares of Unilever Consumer Care were up 1.46% to Tk 2,608 on the DSE as of early afternoon, suggesting investor resilience amid a challenging quarter.
