Reckitt Benckiser Q1 pretax profit 26 Apr 2007 17:31
great defensive play this. Have held for years. Now amazing figures released:-
LONDON (Thomson Financial) - Reckitt Benckiser PLC said its first-quarter pretax profit rose 58 pct to 236 mln stg on actual exchange basis and raised its earnings and revenue targets for 2007.
The maker of household cleaning goods said net profit was 179 mln stg, up 63 pct on actual exchange basis and 36 pct on constant exchange basis.
Its total net revenues rose 8 pct to 1.26 bln stg, and underlying net revenues rose went up to 1.12 bln stg from 1.09 bln stg.
'Reckitt Benckiser had an excellent first quarter with very good growth on both the base business (10 pct like-for-like) and the BHI business acquired in early 2006,' chief executive Bart Becht said.
Growth has come across all geographies and all categories, supported by further increases in marketing investment, Becht added.
It said BHI synergies contributed around 13 mln stg additional profit and net revenues of 139 mln stg in the quarter.
Based on these strong results and momentum, it raised its 2007 net income growth forecast from low double digits to mid teens percentage and net revenue growth from at least 6 pct to between 7 pct and 8 pct at constant exchange.