Reckitt Benckiser raises revenue targets for 2007

Reckitt Benckiser has published its financial results for the third quarter of the 2007 fiscal year, with the company reporting strong growth during the period and increasing its net revenue and profit targets for the full year as a consequence.

The company reported an eight per cent increase in revenues on the comparable figure for 2006, with net sales reaching 1,337 million pounds.

Net income for the quarter rose 62 per cent to 254 million pounds, with an identical rise in reported diluted earnings per share, which reached 34.7 pence for the quarter.

As a result of the strength of these figures, the company has increased its goal for full year net revenue growth to eight per cent from a 2006 baseline of 4,922 million pounds, with a 15 per cent growth target for net income.

Bart Becht, chief executive officer of the company, said: “Reckitt Benckiser had a strong Q3 bringing year to date net revenue growth to 11 per cent at constant exchange.”

He added that this strong growth is a result of ahead-of-schedule savings from the integration of Boots Healthcare International and a good gross margin.

Last month, Reckitt Benckiser posted a pamphlet to shareholders outlining a planned corporate restructuring of the firm, including the exchange of shares in the firm and a reduction in capital.