Reckitt Benckiser 1st Half Pretax Profit Increases; Raises Fiscal Year Net-Revenue Target
27 July 2018 - 4:54PM
Dow Jones News
By Dimitrios Kontos
Reckitt Benckiser Group PLC (RB.LN) said Friday that first-half
pretax profit increased 9.5% on year, and it raised its total net
revenue growth target for the full year as its Infant Formula and
Child Nutrition segment is exceeding expectations.
The consumer-goods company said pretax profit for the six months
ended June 30 was 1.11 billion pounds ($1.46 billion) compared with
GBP1.02 billion for the year-earlier period.
The company behind brands such as Cillit Bang cleaning products
and Nurofen pain killers said revenue for the period rose to
GBP6.14 billion from a restated figure of GBP4.98 billion for a
year ago. The consensus forecast was for revenue of GBP6.01
billion, according to two analysts polled by FactSet.
Operating profit for the period increased to GBP1.29 billion
from GBP1.06 billion a year earlier, the company said.
The board proposed an interim dividend of 70.5 pence a share, up
from 66.6 pence a year earlier.
The company said that since its base business is delivering in
line with expectations and the IFCN segment is ahead, it has raised
its 2018 target for total net revenue growth at constant rates to
between 14% and 15% from between 13% and 14% previously.
Reckitt Benckiser said its expectations for full-year operating
margin, as well as its medium-term target of moderate operating
margin expansion, remain unchanged.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
July 27, 2018 02:39 ET (06:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Reckitt Benckiser (LSE:RKT)
Historical Stock Chart
From Apr 2024 to May 2024
Reckitt Benckiser (LSE:RKT)
Historical Stock Chart
From May 2023 to May 2024