Earnings Report /
Bangladesh

Reckitt Benckiser Bangladesh: Earnings grew by c27% driven by lower opex; downgrade to Hold

  • Revenue fell by c10% YoY in Q3 CY21 due to base effect

  • NPAT grew by 27% YoY due to lower OPEX/Sales, Effective tax rate and GPM expansion

  • Downgrade to Hold with unchanged TP of BDT5,090 (ETR 5.7%) for June 2022

Auneea Haque
Auneea Haque

Research Associate

S. M. Galibur Rahman
IDLC Securities
2 November 2021
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