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Reckitt Benckiser (RB.) Although Reckitt Benckiser tends to be the kind of blue chip elephant that does not gallop, the gap to the upside today suggests that this is just what it is doing at the moment. The gap through the June 3,507p high is a very strong technical feature, one that should ensure that while there is no end of day close back below this level we shall be treated to a minimum March price channel top target of 3,700p over the next couple of weeks. So reckons Zak Mir
Reckitt Benckiser rumours drive price higher Date: Tuesday 05 Jul 2011 LONDON (ShareCast) - Reckitt Benckiser, the maker of brands as diverse as Cillit Bang, Durex and Nurofen headache tablets, is being pushed higher on persistent rumours it's being lined up for a takeover. In early trading the firm was up 2% at 3,553.00p on speculation the US giant Procter & Gamble is considering a bid. As ever in this kind of situation, other names are being bandied about, including Reckitt's UK rival Unilever. The final price for any bid is rumoured to be anywhere between 4,000 and 5,000p a share but as yet there has been no official word from the firm itself. Reckitt Benckiser's share price took a dive in April when the company's long serving and highly rated Chief Executive Bart Becht announced he was to step down in September. He had been the highest paid Chief Executive of any FTSE-100 company, receiving over £90m in remuneration in 2009 The sense is that Becht's departure has changed the strategic outlook of Reckitt, as it looks to move on from his nearly 12 years at the helm.
ING reiterates buy Reckitt Benckiser Group, target price raised from 4475p to 4500p.
There is still time to buy before the final approval but this is probably the last opportunity. Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce it has been informed that the relevant Notified Body is satisfied that all outstanding points in the regulatory dossier for CSD500 have been resolved and has been recommended to their Review Panel for approval. The Panel’s approval process typically takes a month and is already underway. A further statement will be made in the coming weeks regarding the issue of the CE mark certificate. The CE mark certificate will enable CSD500 to be marketed and sold within 29 European territories and a number of other non-European territories that recognise the CE mark process. Reckitt Benckiser plc, makers of the Durex® branded condom have exclusive global rights to CSD500.
UniCredit raises target price on Reckitt Benckiser from 3400p to 3500p.
Morgan Stanley downgrades Reckitt Benckiser from overweight to equal weight, target price cut from 4200p to 3800p
Reckitt Benckiser downgraded to buy from conviction buy at Goldman Sachs, TP cut to 4170p from 4330p
Just love the RB. Fundamentals - continued growth of earnings and profit and div. Not many companies can do that year after year.
Emerging markets boost Reckitt Benckiser Date: Wednesday 20 Apr 2011 LONDON (ShareCast) - A strong performance in emerging markets helped Reckitt Benckiser, the maker of household products such as the cleaning agent Cillit Bang, to a good start to 2011. Net revenues in the first quarter were up by 14% from the same period the previous year at £2.28bn. On a like-for-like basis, excluding the impact of the condom and footcare products maker SSL which was acquired last year, sales were up by 5%. Sales in developing markets, which account for 24% of revenues, were up by 23%, or 14% on a like-for-like basis. In Europe, which accounts for 45% of revenues, net revenue was 17% higher at £1.03bn, but on a like-for-like basis sales were flat. In North America and Australia (24% of revenues) sales were up by 5%, 2% on a like-for-like basis. The pharmaceutical division, which accounts for 7% of revenues, saw sales rise by 23% to £156m, after buying back the rights to sell Suboxone, used to treat heroin addiction. “These results position us well to achieve our FY 2011 financial targets of +12% net revenue growth and +10% adjusted net income growth (both at constant exchange), and with that to deliver another year of above industry-average growth,” said chief executive Bart Becht. RG
On the company front, Cillit Bang maker Reckitt Benckiser gives a third quarter update at noon on Wednesday which shareholders hope will be a catalyst for the shares to recover some of the losses seen this week in the aftermath of the decision by chief executive Bart Becht to retire. Panmure Gordon thinks there is little cause for optimism, however. "We believe the picture will remain one of low, or no, category growth in developed markets, continued high levels of promotional activity and only modest price inflation despite seemingly ever increasing commodity costs. These factors, we believe, will continue be the drivers of investor sentiment, rather than the first full quarter of SSL, continued good growth in developing markets and another quarter with no generic entry for Suboxone." Specifically, the broker forecasts first quarter sales growth of 12.5% to £ 2,253m, versus a consensus of £ 2,279m, made up of 4.0% like for like growth (3.6% excluding Pharma), 9.7% from the acquisition of SSL and -1.1% currency. "We forecast 0% growth in Europe, 2% growth in North America & Australia and 13% growth in Developing markets. We expect the modest growth achieved in developed markets to represent market share growth by Reckitt. For Pharma, we pencil in 10% growth in Q1, with the switch to lower price Suboxone Film continuing to dilute growth, but creating a more defensible business in a post generic world," Panmure Gordon said.
Just bought in as the CE mark for the new Durex 'viagra' condom should be announced soon. FUM should also go up at the same time.
Reckitt shares dive as Becht steps down Date: Thursday 14 Apr 2011 LONDON (ShareCast) - Shares in Reckitt Benckiser took a sharp dive after the FTSE 100-listed maker of household products announced the retirement of its chief executive Bart Becht. The Dutchman, who has been at the helm of the firm since it was formed from the merger of UK company Reckitt & Colman and Dutch firm Benckiser , will hand over the reins to Rakesh Kapoor, currently in charge of the company’s ‘Powerbrands’ strategy, on 1 September. Becht will act as a ‘part-time adviser’ to Kapoor until September next year. Reckitt’s ‘Powerbrands’ include Finish dishwasher tablets and Vanish stain remover. The firm enjoyed strong profit growth in 2010 as developing markets offset a decline in Europe. “The board is delighted that someone of Rakesh Kapoor's calibre is able to step into the role of chief executive,” said chairman Adrian Bellamy. “His close involvement in the drivers of success at RB and significant achievements to date are reassurance that the excellent performance for which RB has become renowned is set to continue.”
Commenting on today's announcement, Adrian Bellamy, Chairman, said: "The Board is delighted that someone of Rakesh Kapoor's calibre is able to step into the role of CEO. His close involvement in the drivers of success at RB and significant achievements to date are reassurance that the excellent performance for which RB has become renowned is set to continue. "Consistent with its succession plan, the Board was unanimous in its choice of Rakesh as he has the necessary drive, strategic thinking and operational experience coupled with a more than intimate understanding of and capability to improve RB's financial performance and earnings model. He is supported by an excellent team of senior executives." "On behalf of the Board, I would like to thank Bart Becht for his outstanding contributions to Reckitt Benckiser at its helm and the performance delivered over the last 16 years. It is testament to his leadership that we are so well placed in terms of succession and depth of senior management strength." Commenting on today's announcement, Bart Becht, Chief Executive Officer, said: "I am honoured to have been CEO of Reckitt Benckiser, and to have had the opportunity to work with such an entrepreneurial, talented and innovative group of people who have created what I believe is the leading global home, health and personal care company. After 16 years in the role, I believe now is the right time to retire. We have the strongest senior management cadre we have ever had, our new CFO has bedded-in excellently and our SSL integration is on track and by September will be all but completed." "It gives me great pleasure to see Rakesh as the new CEO of RB. He has an outstanding track record of performance over many years, with broad experience across developing and developed markets, and all categories. I have seen his considerable leadership and commercial skills in operation and he will be a strong leader for RB in the future." Rakesh Kapoor, CEO designate, also commented: "I am delighted to take on this role and very much look forward to leading the business to its next stage of growth and performance, supported by an excellent senior management team."
Reckitt Benckiser Group plc Bart Becht to retire as Chief Executive Officer Rakesh Kapoor of RB to be appointed as new CEO The Board of Reckitt Benckiser Group plc (RB) today announces the retirement of Bart Becht as CEO and is pleased to announce the appointment of Rakesh Kapoor as CEO designate. Rakesh Kapoor has a 25 year career with RB and is currently executive vice president global category development at RB and an Executive Committee member Rakesh Kapoor becomes CEO effective 1 September 2011 with Bart Becht staying on as part time adviser to Rakesh and the Board until September 2012 to ensure a smooth transition. Rakesh Kapoor joined RB in India in 1987 and was appointed to the Executive Committee in 2006 to lead the two key drivers of RB's continued above industry-average growth - its global Powerbrand strategies and innovations. Prior to this Rakesh had a highly successful career in RB, including leading the UK and Northern Europe business to the best financial performance these businesses have ever delivered. He has extensive experience of the household, health and personal care categories, and an intimate knowledge and understanding of consumers and retailers in both developing and developed countries. Having led the pan-European and largest health care business in RB, when also leading Northern Europe, he was one of the architects of the Boots Healthcare International acquisition in 2006 which transformed RB into a global consumer health care company. He has been equally involved in the recent SSL and Paras India acquisitions.
http://www.investegate.co.uk/Article.aspx?id=20110414080000P6515
Reckitt Benckiser is wanted after Bank of America Merrill Lynch upgraded the stock of the Cillit Bang maker to “buy” from “neutral”,
anyone dare to guess what direction will it go? Dividend coming soon and growth pretty decent (but below expectations). thanks!
Evolution Securities moved its rating for consumer goods firm Reckitt Benckiser (RB.) from "buy" to "neutral" with a reduced target price of 3,700p, down from 3,900p. The broker believes the group faces a raft of short-term headwinds including: flat-to-declining category growth in mature markets; tough fourth quarter over-the-counter competition; and input cost inflation. Whilst one would back the firm to manage these issues successfully, the broker thinks investors may look elsewhere for value until the earnings risk is clarified.
Another go at the link By Zak Mir: http://**************/shop/page-article/action-article.show/id-130006471
http://**************/shop/page-advice/action-advertorial.show/id-130006471 Reckitt Benckiser (RB.) I suppose that the big question associated with the perfect fit deal between SSL (SSL) and Reckitt is why the latter waited until this year to pay 1,200p a share when it could have snapped up the Durex maker for half the price early last year? But of course when you have the money such fine details do not really matter. As far as the daily chart position of Reckitt is concerned there has just been an initial failure at a combination of the black 200 day moving average / April price channel top of 3,300p. Nevertheless, with the RSI now at a very buyable 56 it may be worth waiting for a weekly close above 3,300p to target an upside break and a return to April resistance above 3,600p.
I hold these long term and its a great solid company that is performing very well in a difficult market.