Marico profits up 20pc
Marico Bangladesh, a listed fast-moving consumer goods multinational, saw a year-on-year sales growth of just over 17 per cent while profit growth of over 20 per cent in the October-December period of the current financial year.
Its revenue grew to Tk 334 crore, profits to Tk 86 crore while earnings per share stood at Tk 27.3, according to a press release issued after a board meeting yesterday.
Based on its profits, the company announced a 200 per cent interim cash dividend for its shareholders. The revenue growth was driven by overall volume growth through a healthy mix in the portfolio led by growth in coconut oil, hair oils, shampoo and baby care portfolios, said the company.
It also launched its "Parachute Just For Baby Shampoo" during the last quarter, extending its comprehensive range of baby care products.
Marico also carried out corporate social responsibility involving soaps, hand sanitisers and petroleum jelly in ultra-poor districts of Bangladesh considering the spike in Covid-19 infections and winter season skin care, it said.
With a third wave of the pandemic sweeping across the country, Marico is prioritising health, safety and security of its members and a return to work-from-home modality and a roster basis attendance. The company hopes to face no supply chain disruptions with lockdowns.
With the current price increases of daily essentials and inflation rates, maintaining a smooth supply of essential consumer products is critical to manage out-of-stock situations and ensure price stability in the market, it added.
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