Announcements

RB Press release - 15/10/2003
Strong Q3 Results Increase Confidence in Delivering Full Year Targets

The following is the text for the Reckitt Benckiser conference call to be given today by Bart Becht, Chief Executive Officer, and Colin Day, Chief Financial Officer, at 1400 hrs London time. The purpose of the call is to update the market on progress of the business in the third quarter of 2003.

Commenting on the position, Bart Becht said

"Q3 was a strong quarter. Both net revenue and net income growth were ahead of the full year targets.

Western Europe continued its strong performance. Net revenue and profit growth recovered in North America behind the success of its new products. All emerging markets saw continued good momentum. Strong net revenue growth combined with good operating margin expansion resulted in significant profit growth.

As a result, we believe that Reckitt Benckiser is firmly on track to deliver on its full year targets."

Update on Q3

For the total Company, net revenue growth at constant exchange in the third quarter is expected to be around 9% (2002 base £876m). The exchange rate impact on net revenues in Q3 was favorable resulting in net revenue growth of around 13% at actual exchange.

Profitability benefited from further improvement in gross margins, driven by product mix and by savings from ongoing cost optimization. Operating margins expanded significantly and cash generation was strong. Consequently, the Company looks for the Q3 net income growth rate to be well ahead of the full year target growth rate (2002 base of £95m).

Year to Date

This will bring net revenue growth for the nine months to 7% at constant and at actual exchange (2002 Base £2,632m). Net income growth for the nine months is expected to be ahead of the target full year growth (2002 base of £268m).

Full Year Targets

The full year target is for net revenue growth at the top end of a 4% to 6% range at constant exchange and for net income growth of 14% at actual exchange.

The full results for Q3 will be released on 11th November 2003.

For Further Information

Tom Corran
SVP Investor Relations & Corporate Communications
Telephone: +44 (0)1753 217 800

Mark Wilson
Investor Relations Manager
Telephone: +44 (0)1753 217 800

Tim Spratt
Financial Dynamcis
Telephone: +44 (0)207 831 3113

Notes.

Discontinued business

There is no impact of discontinued business in Q3. The impact of discontinued businesses on year to date is therefore the same as disclosed in the Half Year results.