Reckitt impresses as it increases revenue growth target

By
0 mins. to read
Reckitt impresses as it increases revenue growth target
Faizal Ramli / Shutterstock.com
Master Investor Magazine 40 cover

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

Personal care products group Reckitt Benckiser (LON:RB.) said first-half pretax profit rose 9.5% to £1.11 billion as net revenue grew 23% on a reported basis to £3 billion, driven by its acquisition of infant formula group Mead Johnson.

In response, the interim dividend was lifted 6% to of 70.5p per share. The full-year revenue growth target forecast at constant currency rates was also increased to 14-15%, up from 13-14%, in response to strong growth in instant formula sales.

“RB 2.0 is driving greater focus and energy as we operate under our new business units – Health and Hygiene Home,” commented CEO Rakesh Kapoor. “I am confident that as we fully realise the benefits of RB 2.0, we will deliver outperformance in both business units.”

Shares in Reckitt Benckiser jumped 449p to 6,760p (as at 09:20 BST).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.