Reckitt impresses as it increases revenue growth target

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Reckitt impresses as it increases revenue growth target
Faizal Ramli /
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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).

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