Reckitt Benckiser Pretax Profit Rises as Costs Decline
July 24 2017 - 2:53AM
Dow Jones News
By Tapan Panchal
LONDON--British consumer goods company Reckitt Benckiser Group
PLC (RB.LN) on Monday reported a rise in first-half pretax profit,
mainly due to reduced exceptional costs, and said it expects to
return to like-for-like revenue growth progressively over the
second half of the year.
The maker of Dettol antiseptic liquid and Durex condoms made a
pretax profit of 1.02 billion pounds ($1.32 billion) for the six
months ended June 30, up from GBP697 million a year earlier.
Revenue rose to GBP5.02 billion from GBP4.39 billion. On a
like-for-like basis revenue for the period fell by 1%.
Reckitt, which earlier this month agreed to sell its food
division to U.S. spice maker McCormick & Co. for $4.2 billion,
is targeting 2% growth in full-year net revenue, down from a
previous estimate of 3% growth. It has reiterated its medium-term
target of moderate operating margin expansion.
The FTSE100 listed company declared an interim dividend of 66.6
pence a share, up 14%.
-Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
July 24, 2017 02:38 ET (06:38 GMT)
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