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Home Industry News Reckitt Benckiser reports ‘exceptional’ growth

Reckitt Benckiser reports ‘exceptional’ growth

18th February 2008

Reckitt Benckiser has published its financial results for the 2007 fiscal year, reporting strong growth during the period while also targeting another strong year during 2008.

During the year, net revenues rose by seven per cent to 5.3 billion pounds, while reported net income rose by 39 per cent to 938 million pounds.

Adjusted net income rose by 15 per cent to 905 million pounds, resulting in a 15 per cent rise in diluted earnings per share to 123.4 pence.

Bart Becht, chief executive officer, said: “Reckitt Benckiser had a great year in 2007 due to the success of its 18 Powerbrands behind new products such as Air Wick Freshmatic or Vanish Oxi Action Multi and strong growth for the ex-BHI brands Nurofen, Strepsils and Clearasil.”

He added that the increase in profits at the firm was driven by BHI synergies coming in ahead of schedule in addition to its strong gross margin expansion.

The company is targeting continued growth of net revenues of around six to seven per cent during 2008 and net income growth of ten per cent, when measured at constant exchange.

Last month, Reckitt Benckiser completed a cash tender offer for the remaining shares of common stock in Adams Respiratory Therapeutics.

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