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RB Press release - 25/10/2005
Record Quarter On Track For Full Year Targets

Results at a GlanceQ3
£m		% change actual exchange% change constant exchangeYear To Date
 £m		% change actual exchange% change constant exchange
Net Revenues £1,058m+8%+5%£3,072m+8%+6%
Operating Profit£210m+7%+4%£555m+9%+7%
Net Income£174m+16%+13%£442m+16%+14%
EPS (diluted)23.5p+19% 59.3p+17% 


  • Net revenues grew 8% (5% constant) to £1,058m in Q3, a record quarter for the Company, and 8% (6% constant) to £3,072m year to date (YTD).
  • Operating profit increased 7% in Q3 to £210m and 9% in YTD to £555m. YTD operating margins improved by 20 basis points (bps) to 18.1%.
  • Net income grew 16% in Q3 to £174m and 16% in YTD to £442m after a non-recurring tax credit of £13m in Q3.  Fully diluted EPS grew 19% in Q3 to 23.5p, and 17% in YTD to 59.3p, the growth rate benefiting from the share buyback program.
  • Strong cash generation resulted in net funds of £714m at the end of Q3, an increase of £82m since last year-end, after share buybacks of £243m and dividends of £262m this year.  The Company will complete its £300m share buyback program for 2005 and has confirmed its intention of a £300m buyback program in 2006.
  • Major initiatives contributing to these results included Cillit Bang, Finish 4in1, Air Wick Freshmatic and Vanish Oxi Action Max.


    • Commenting on these results, Bart Becht, Chief Executive Officer, said
    "Reckitt Benckiser sustained its robust growth ahead of the market resulting in our highest ever quarter for net revenues.   Growth came across all regions and was strongly driven by new products like Cillit Bang, Finish 4in1, Air Wick Freshmatic and Vanish Oxi Action Max.  Operating profit and net income improved in line with expectations despite the continuing pressure on input costs.  To address this pressure, Reckitt Benckiser is implementing price increases in North America and Europe.

    "The results confirm that Reckitt Benckiser is on track to deliver its full year targets of net revenue growth of 5% to 6% at constant exchange and net income growth in the mid teens on an adjusted IFRS base of £563m at actual exchange."

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