Reckitt Benckiser H1 Adj. Profit Rises

Reckitt Benckiser Group Plc (RBGPF.PK,RB.L) reported that its first half adjusted operating profit, excluding IFCN China, was 1.76 billion pounds compared to 1.42 billion pounds, prior year. Adjusted operating margin was 25.6% compared to 22.7%. Adjusted EPS was 178.6 pence, 25.2% higher than last year.

Profit before income tax was 1.69 billion pounds compared to a loss of 1.94 billion pounds, prior year. IFRS total profit per share was 187.8 pence compared to a loss of 241.7 pence.

For the six months ended 30 June 2022, net revenue increased to 6.89 billion pounds from 6.60 billion pounds, last year. On an IFRS basis, net revenue growth was 4.4%. Net revenue grew by 8.6% on a LFL basis.

For the full year, the Group now expects growth in operating margins. The Group now expects LFL net revenue growth of 5-8%. Reckitt Benckiser said it is already delivering sustainable mid-single digit net revenue growth and remains firmly on track to deliver medium-term goal of mid-20s adjusted operating margins by the mid-2020s.

The Board recommended an interim 2022 dividend of 73.0 pence, in line with prior year. The dividend will be paid on 14 September 2022 to shareholders on the register at the record date of 5 August 2022.

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