Reckitt Benckiser Swings to 2020 Net Profit on Strong Hygiene Sales
February 24 2021 - 2:58AM
Dow Jones News
By Matteo Castia
Reckitt Benckiser Group PLC reported Wednesday a swing to a net
profit for 2020, as its hygiene division benefited from increasing
demand amid the coronavirus pandemic and boosted revenue in the
period.
The consumer-goods company--which houses Dettol, Harpic and
Durex among its brands--made a net profit of 1.19 billion pounds
($1.68 billion) for the year, compared with a net loss of GBP3.68
billion in 2019.
Pretax profit was GBP1.87 billion, compared with a loss of
GBP2.11 billion, it said. Revenue rose to GBP13.99 billion from
GBP12.85 billion.
In the fourth quarter, revenue rose to GBP3.57 billion from
GBP3.32 billion in the year-earlier period, it said. The group's
hygiene division increased its revenue by 22% during the fourth
quarter to GBP1.59 billion, and by 16% to GBP5.82 billion for the
full year.
On a like-for-like basis, revenue from the hygiene division
jumped 26% on the year during the fourth quarter and 20% in the
full year.
The board declared a final dividend of 101.6 pence, taking the
full-year payout to 174.6 pence, flat on the year.
The company said it expects like-for-like revenue for 2021 in a
range from flat to 2% growth, including a strong first quarter.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
February 24, 2021 02:43 ET (07:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Reckitt Benckiser (PK) (USOTC:RBGLY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Reckitt Benckiser (PK) (USOTC:RBGLY)
Historical Stock Chart
From Sep 2023 to Sep 2024