Reckitt Benckiser announces half-year results

Reckitt Benckiser has announced its financial results for the first half of the 2008 fiscal year.

The company reported net revenues of 3,074 million pounds for the period, a rise of 20 per cent on the same period last year.

Operating profit for the half rose by 18 per cent on last year’s figure, up to 600 million pounds, with profit on an adjusted basis increasing by 24 per cent to 630 million pounds.

Gross margin for the half increased by 70 basis points to 58.3 per cent, with adjusted operating margin expanding by 60bps to 20.5 per cent.

Net income for the period rose by 18 per cent on an adjusted basis to 465 million pounds.

The interim dividend reported by the company increased by 28 per cent to 32 per share.

Bart Becht, chief executive officer of the company, said: “Reckitt Benckiser had a very good first half with 11 per cent net revenue growth.”

He added that growth at the company was driven by increased investment in its Powerbrands and successful product innovations.

Earlier this month, Reckitt Benckiser announced that Elio Leoni Sceti, executive vice-president for Europe, has opted to leave the firm.