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Announcements

RB Press release - 27/10/2009
Continued Strong Momentum in Q3, FY 2009 Targets Increased


Results at a glance

Q3
£m

% change actual exchange

% change constant exchange

YTD
£m

% change actual exchange

% change constant exchange

Net Revenue

1,907

+15

+7

5,690

+20

+7

Operating Profit - reported

467

+23

+10

1,286

+31

+15

Operating Profit - adjusted *

467

+23

+10

1,286

+27

+12

Net Income - reported

357

+25

+12

970

+33

+16

Net Income - adjusted *

357

+25

+12

970

+29

+13

EPS (diluted) - reported

49.6p

+26

134.4p

+34

EPS (diluted - adjusted *

49.6p

+26

134.4p

+30


* Adjusted results (including % change figures) exclude exceptional items (see page 2). There are no exceptional items in YTD 2009 compared to an exceptional charge of £30m pre-tax in YTD 2008.

Year to date (“YTD”) highlights:
  • Total net revenue +7% (constant exchange) to £5,690m, driven by growth in the Group’s 19 Powerbrands. Excluding Reckitt Benckiser Pharmaceuticals (“RBP”), net revenue was ahead +5% (at constant).
  • Gross margin +90bp to 59.4%: adjusted operating margin +130bp to 22.6%.
  • Adjusted net income +29% (actual exchange): adjusted diluted EPS of 134.4p (+30%).
  • Net debt of £423m (31 December 2008: £1,096m), as a result of strong free cash flow generation partially offset by the payment of two dividends totalling £648m.
  • Net working capital of minus £1,275m, a £178m improvement versus the 31 December 2008 level.

Q3 highlights:
  • Total net revenue +7% (constant exchange), +5% (constant) ex-RBP.
  • Gross margin +120bp to 60.0%: adjusted operating margin +170bp to 24.5%.
  • Adjusted net income +25% (actual exchange): adjusted diluted EPS of 49.6p (+26%).

Commenting on these results, Bart Becht, Chief Executive Officer, said:

“Reckitt Benckiser continued to see good momentum, with net revenue growth of +7% at constant exchange. This result was supported by our 19 Powerbrands, behind significant investment in media and marketing and successful new product initiatives. We are raising our full year target for net revenue growth to +6-7% at constant exchange (previously +5-6%), as a result of continued strong momentum in the base business, combined with upside on RBP compared to ingoing expectations. For adjusted net income growth, we are raising our target to +12-13% at constant exchange (previously +10-11%), or around +22-23% at actual exchange.”

To view the full press release, click on the link below.
  • Lysol
  • Mucinex
  • Frenchs
  • Airwick
  • Nurofen
  • Vanish
  • Durex
  • Clearasil
  • Dettol
  • Cillet Bang
  • Strepsils
  • Scholl
  • Gaviscon
  • Mortein
  • Woolite
  • Veet
  • harpic
  • Calgon
  • Finish