Reckitt Benckiser meets targets in Q1 2014

Reckitt Benckiser has announced its financial results for the first quarter of 2014, during which it generated total net revenue of 2.39 billion pounds.

This represents a total net revenue increase of three percent at constant exchange rates, or five percent when excluding the pharmaceuticals division, which may be spun off by the group in the near future.

Its performance in Europe and North America remained strong despite tough competition, while its emerging market growth was sustained. In particular, the focus on consumer health is helping to drive success.

Reckitt Benckiser also expects that its recently-announced acquisition of the personal lubricant brand K-Y from McNeil – which is due to close midway through the year – will give it a stronger position in the sexual wellbeing category in key markets of the US and Brazil.

Rakesh Kapoor, chief executive officer at Reckitt Benckiser, said: "We have made a robust start to the year and net revenue growth is on track for our full-year targets, which we reiterate."