The Veet hair removal system for hairy gorillas is flying off the shelf.

This surely has to be a buy? DYOR

http://www.reckittbenckiser.com/

up .43p today and more to come, undervalued at 30 IMHO chart looking poised for exponential blow off

its trading in the zone

Reckitt Benckiser 4Q Sales +8%, Sets Growth Targets For 2009





By Michael Carolan
Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- Reckitt Benckiser PLC's (RB.LN) posted another strong set of results for its fourth quarter Wednesday and unlike rival Unilever PLC (UN UL), forecast another year of robust growth in 2009.

The household cleaning and personal care products maker said net profit in the three months to Dec. 31 was GBP393 million, up from GBP289 million a year earlier. Sales were GBP1.83 billion, up 33%. Stripping out the effect of acquisitions and currency movements, fourth-quarter sales were up 8%, lower than the 10% rise seen in the previous quarter but ahead of expectations.

Underlying operating margin increased 40 basis points in the latest quarter to 28.8%

The maker of a products such as Lysol, Clearasil, Cillit Bang and Senokot also set growth targets for 2009. Stripping out currency fluctuations, it is targeting sales growth of 4% and a rise in post-tax profit before exceptional items of between 8% and 10%. The comparable figures for 2008 are growth of 13% and 12%, respectively.

While the company is forecasting a slowdown in its growth rates, it is at least providing forecasts. Anglo-Dutch rival Unilever PLC (UN UL) last week scrapped its sales and margin targets and refused to provide any outlook for 2009 in the face of the economic uncertainty.

Reckitt has a habit in recent years of setting sales growth targets at the start of the year only to beat them once the year is complete. Last year's underlying sales growth of 10% compares with an original target of 6%-to-7%.

"Reckitt Benckiser had an excellent year in 2008 despite challenging conditions," said Chief Executive Bart Becht in a statement. He said all regions and all major brands contributed to the growth, "supported by significant media investment and successful innovations."

Reckitt's steady performance over 2008 has meant that, unlike rival consumer goods groups, its share price is actually slightly higher than a year ago, despite the economic downturn. The shares closed Tuesday at 2,622 pence, down 3% on the day but 0.6% above the year-ago level.

Company Web site: www.reckittbenckiser.com

-By Michael Carolan, Dow Jones Newswires; 44-20-7842-9278; michael.carolan@dowjones.com

28 has proved resistance in the past.

I wonder if now this will bounce at this support area or continue on down to bounce off the lower line of the channel at about 22.75p? Then again, it could drop straight through......

Ive got fibbo levels just above 2400 but having seen 2097 in Oct I wouldnt bet on a bounce either! ulvr is down around its oct levels already,and why am I getting depressed looking at the 10 year chart above !!

UPDATE: Reckitt Benckiser Upgrades Fiscal Year Targets After Strong 2Q





(Adds comment from the CEO and an analyst.)

By Michael Carolan
Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- Reckitt Benckiser PLC (RB.LN) continued to shrug off the effects of the global downturn Wednesday, beating expectations with its second-quarter results and raising both its sales and profit targets for the full year.

The household cleaning and personal care products maker said its net profit in the three months to June 30 rose 29.2% to GBP310 million from GBP240 million last year and ahead of expectations of about GBP303 million.

Sales were GBP1.87 billion, up 20%. Stripping out the effect of currency movements, second-quarter sales were up 8%, ahead of expectations of 5.5% and in line with the previous three months.

"As a result of this strong start to the year, we are raising our full-year 2009 targets," said Chief Executive Bart Becht said in a statement.

The company is now targeting net revenue growth of 5% to 6% - up from previous guidance of 4% growth - and net income growth of 10% to 11% - up from a previous forecast of 8% to 10%.

The raising of its targets is partly a result of strong margin growth. The company managed to grow its gross margin 70 basis points to 59.6% and its operating margin by 130 basis points to 22.1%, through price increases, the easing of input costs and cost savings.

Sanford Bernstein analyst Andrew Wood said the raising of Reckitt Benckiser's full-year guidance was no surprise. "The revenue target in particular was always too prudent in our view," he said.

The maker of a products such as Lysol, Clearasil, Cillit Bang and Senokot historically uses its quarterly updates to raise its full-year targets. Last year's underlying sales growth of 10% compares with an original target of 6%-to-7%.

The higher full-year growth rates were therefore largely priced in to the Reckitt Benckiser share price and by 0806 GMT the stock was down 8 pence, or 0.3%, at 2853 pence in a higher London market.

Reckitt has consistently outperformed its rivals for years, due to its focus on a limited number of leading brands, its lean operations and its industry-leading innovation programs - which attract customers to its brands even when money is tight.

CEO Becht said on a media conference call that the recession was having an impact on the company, though it operates in some resilient categories. He said the market growth for its products was about 3% this year, down from historic levels of between 4% and 5%.

While this growth in the market is largely driven by emerging markets rather than developed markets, Becht said the company was gaining share in both.

The company's 8% rise in sales was driven in large part by the stellar growth of its heroin-dependency treatment Suboxone. Stripping out the benefit of Suboxane, Reckitt's sales growth rate drops to just 5%.

Suboxone's exclusivity in the U.S. expires on Oct. 8, leaving it exposed to potential generic competition.

Up to 80% of the revenues and profits of the company's pharmaceuticals division might therefore be lost to generic competition in 2010, with the possibility of further erosion thereafter, said Becht.

Bernstein analyst Andrew Wood said there was little management can do about the Suboxane situation. "Still, we find management's current targets to be reasonable and achievable."


Reckitt Benckiser Not Launching Its Own Generic Suboxone





LONDON -(Dow Jones)- Reckitt Benckiser PLC (RB.LN) has no plans to launch its own generic Suboxone product when its exclusive rights to the heroin-dependance treatment expire in October, the group's chief executive said Wednesday.

The household cleaning and personal care products maker has exclusivity for Suboxone in the U.S. until the end of September and in Europe until 2016.

Analysts have speculated that Reckitt could be planning to launch its own generic product in the U.S. to offset the impact of the loss.

"I normally wouldn't comment on this but no we're not," said CEO Bart Becht on a conference call with reporters.

He said the company was looking for other ways to offset the loss of exclusivity in the U.S. Up to 80% of the revenues and profits of the company's pharmaceuticals division might be lost to generic competition in 2010, with the possibility of further erosion thereafter, he said.

He added that the pharmaceutical business was a relatively small part of the business.

Suboxone posted net revenue of GBP219 million in the six months to June 30 and adjusted operating profit of GBP132 million.

Suboxone is a prescription drug used to treat heroin dependence.

New high.

Reckitt Benckiser revenue up 7% in Q3
Business Financial Newswire
Household and personal goods group Reckitt Benckiser raised its targets for the full year after revealing third-quarter revenue growth of 7% at constant exchange, driven by growth in the group's 17 Powerbrands.

Turnover was 1.91bn for the quarter and 5.69bn for the year to date.

The group reported a quarterly operating profit of 467m, up 10% at constant currency, and year-to-date profit of 1.29bn, up 12%.

Adjusted Q3 EPS was 49.6p, up 26%, and 134.4p for the first nine months, up 30%.

Adjusted operating margin rose by 130bp to 22.6%.

Net debt fell to 423m from the 31 December figure of 1,096m as a result of strong free cash flow generation, partially offset by the payment of two dividends totalling 648m.

Chief executive Bart Bech said Reckitt Benckiser continued to see good momentum. 'This result was supported by our 17 Powerbrands, behind significant investment in media and marketing and successful new product initiatives.'

The group was raising its full-year target for net revenue growth to 6-7% at constant exchange, previously 5-6%. Its adjusted net income growth target was being to 12-13% at constant exchange (previously 10-11%).

New high.

Final Results.

FY highlights:

Total net revenue +8% (constant exchange), driven by growth in the Group's 17
Powerbrands. Excluding Reckitt Benckiser Pharmaceuticals ("RBP"), net revenue
was ahead +6% (at constant).

Gross margin +90bp to 60.2%: adjusted operating margin +100bp to 24.4%.

Adjusted net income +24% (actual exchange): adjusted diluted EPS of 194.7p
(+23%).

Net cash of 220m (2008: net debt of 1,096m), as a result of ongoing strong
free cash flow generation.

Net working capital of minus 1,257m, a 160m improvement versus the 31
December 2008 level.

The Board recommends a +19% increase in the final dividend to 57.0p per share,
bringing the total dividend for 2009 to 100.0p (+25% versus 2008).

Q4 highlights:

Total net revenue growth of +10% (constant exchange), +6% ex-RBP.

Gross margin +100bp to 62.3%: adjusted operating margin +50bp to 29.3%.

Adjusted net income +14% (actual exchange): adjusted diluted EPS of 60.3p
(+10%).

Dividends. The Board of Directors recommends a final dividend of 57.0 pence
(2008: 48.0 pence), an increase of +19%, to give a full year dividend of 100.0
pence (2008: 80.0 pence), an overall increase of +25%. The dividend, if
approved by shareholders at the AGM on 6 May 2010, will be paid on 27 May to
shareholders on the register at the record date of 26 February. The ex-dividend
date is 24 February and the last date for election for the share alternative to
the dividend is 6 May. The final dividend will be accrued once approved by
shareholders.

New high again today!

OFT ISSUES STATEMENT OF OBJECTIONS FOR ALLEGED ABUSE OF A DOMINANT POSITION BY RECKITT BENCKISER

The OFT has today issued a Statement of Objections alleging that Reckitt Benckiser abused its dominant position in the market for the NHS supply of alginate and antacid heartburn medicines.

The OFT alleges that Reckitt Benckiser sought to restrict competition to its Gaviscon brand by withdrawing and de-listing its NHS packs of Gaviscon Original Liquid from the NHS prescription channel.

10 years v the FTSE.

These have been off my list for a while - nearly 10% fall this week.

RB buy Durex.

Summary of the Offer

The boards of Reckitt Benckiser Group plc ("Reckitt Benckiser") and SSL International plc ("SSL") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Reckitt Benckiser plc, a wholly-owned subsidiary of Reckitt Benckiser, to acquire the entire issued and to be issued share capital of SSL (the "Offer").

SSL is a focused consumer products company with leading global brands such as Durex and Scholl, as well as a portfolio of local brands.

Reckitt Benckiser is a world leader in household and health & personal care. The acquisition of SSL provides Reckitt Benckiser with an attractive opportunity to increase its presence in the health & personal care sector.

Under the terms of the Offer, SSL Shareholders will be entitled to receive 1163 pence in cash per SSL Share (the "Offer Price") and will also remain entitled to receive the proposed final dividend of 8 pence per share in respect of the year ended 31 March 2010 (the "SSL Dividend"), representing, in aggregate, 1171 pence per SSL Share.

The Offer Price plus the SSL Dividend values SSL's fully diluted share capital at approximately 2,540 million.

The Offer provides SSL Shareholders with a compelling opportunity to realise full value up front for their investment in SSL in cash.

The Offer Price plus the SSL Dividend represents:

o a premium of approximately 32.8 per cent. to the closing price of 882 pence per SSL Share on 20 July 2010, being the last business day prior to the Announcement Date;

o a premium of approximately 39.3 per cent. to the average closing price of approximately 840.7 pence per SSL Share for the one month period to 20 July 2010; and

o a premium of approximately 44.7 per cent. to the average closing price of approximately 809.3 pence per SSL Share for the six month period to 20 July 2010.

Reckitt Benckiser: Chief Financial Officer Colin Day To Leave
Reckitt Benckiser (LSE:RB.)
Intraday Stock Chart
Today : Friday 22 October 2010
Reckitt Benckiser Group PLC (RB.LN), said Friday that Colin Day, chief financial officer and executive member of the board will leave the company.

MAIN FACTS:

-His successor will be announced in the next few months.

-To ensure a smooth transition and an effective handover Colin Day will remain with the business until end of March 2011.

Just gone long @3154.

Just closed these @3387 +233.

Nice skinny!

Took my eye off the ball here - showing some recent strength - no doubt a bid rumour will surface!

Household goods and healthcare products conglomerate Reckitt Benckiser continued to attract buyers, adding 52p at 3,540p, as bid rumours persisted, with Unilever in the frame. Unilever shares dipped 2p at 2,035p in response.

About par for the course!

From the Guardian
Reckitt Benckiser, the maker of Cillit Bang and Dettol, was the day's speculative tale, up 35p to 34.88 on renewed talk of a possible offer for the company at around 50 a share. The supposed predator was Unilever, 25p higher at 20.37, with traders suggesting the Anglo-Dutch group could sell on any unwanted Reckitt brands to US rival Colgate-Palmolive. The timing would be interesting - Reckitt's long standing chief executive Bart Becht is due to step down in September.

Reckitt Benckiser, the maker of Cillit Bang and Dettol, gave support to the market following speculation that Unilever and Proctor & Gamble were circling the company for a takeover bid. Shares were ahead 61p at 3549p.

Read more: http://www.thisismoney.co.uk/money/markets/article-2011365/FTSE-LIVE-Services-provides-boost-Reckitt-climbs-Unilever-bid-talk.html#ixzz1RFDXvajK

I've updated post 22 to show volume.

From FT.com/Alphaville - Neil Hume
Depending on which publication you read this morning, Reckitt was either going to be acquired by either Proctor & Gamble or Unilever for anything between 40-50 a share (curiously round numbers arent they? Ed.)

Now, one should never say never, but a bid from either company looks to be a long shot, says the sectors top-rated analyst, Andrew D Wood of Sanford Bernstein:

Given the sustained speculation of a potential bid for RB, I thought it might be worthwhile re-distributing this report we published in April. It primarily looks at potential anti-trust issues for the usual suspects (P&G, Unilever, Colgate), but we also make comments on the potential for acquisition as well. In particular I would highlight the following extract from the report:

Our [anti-trust] analysis is not definitive, and clearly could be addressed by joint bids or bids where the bidder is prepared to accept significant remedies in order to get the deal donebut it does suggest that any hope that RB could be subject to aggressive pursuit from P&G are slim. Unilever could probably pursue RB, but we believe that the business is still in turnaround show me mode under a fairly new CEO, and an aggressive pursuit of a 29bn (32bn, $47bn) acquisition, assuming an acquisition price of 40, would not get the support of the board or investors. RB is also probably too big for Colgate to swallowbut a merger of equals could be considered, and anti-trust issues would not preclude the deal.

Hmm, a merger with Colgate. That has also been rumoured and its said to be the real reason behind Bart Bechts surprise departure from Reckitt. He was pushing for a transformational merger and the board blocked him.

And its certainly a goer.

Colgate would have only minor issuesmostly limited to surface care from a category perspective and Greece and Australia from a country perspective. We estimate that only 3% of RBs sales in the EU would be at high risk or risk of anti-trust issues, and only 6% of sales globally. Once again, anti-trust remedies would probably not preclude a deal.

As opposed to bid from P&G

P&G would find it difficult to get a deal done. We see significant anti-trust issues in a number of important categories (Surface Care, Auto Dishwash, Laundry Aids and Depilatories) in a number of countries (US, Canada, most of the EU). We estimate that 44% of RBs sales in the EU would be at high risk or risk of anti-trust issues, and 31% of sales globally. We conclude that required anti-trust remedies would probably block a deal.

Wood reckons the real reason Reckitt has rallied today is a growing appreciation of its fundamentals - steadily improving core markets and sales growth as 2011 progresses , good news and more bullish guidance on the Pharma business (especially the transfer from Suboxone Tablets to Film) and strong success with the integration of Durex condom maker SSL.

Whilst I do trade RB, I've gone long ULVR. It has been in a recent uptrend which stalled today. I'm hoping that if the bid comes to nothing, there may be some upside with ULVR.

Citibank note:
"Reckitt closed up 3% yesterday on speculation that Unilever or Procter are going to make a bid. The thesis is, without a strong CEO, Reckitt is now more vulnerable to a takeout. We think this is unlikely however given the lack of synergies for a potential acquirer and, speaking to clients yesterday, the feedback is that they definitely agree. We saw busy two way flow in the name yesterday but most of the buyers were really covering their short positions. It sounds like sellers on the other side are taking profits after a 20% run off the lows. We think Q2 numbers aren't going to be great & that you could see some profit taking short term. However, on a longer term view, we remain buyers of Reckitt. Whilst we don't believe in the takeout story, we think top line growth is underestimated - Claire is 3% ahead of consensus & this is one of the few names in Consumer Staples eps momentum this year => Short term profit taking in Reckitt, Long term this is a stock to own."

Vindication then! I didn't quite have the nerve to short RB though!

Out of ULVR +37. RB down again hmmmmm.

Just gone long @3450.

Just closed +42 - its not looking very nice out there!

Half Year Results 2011.

Half Year (HY) highlights:

* Total net revenue growth of +15% (constant exchange) to 4,621m. LFL growth
+5% (+4% ex-RBP).

* Gross margin -70bp to 59.3%: adjusted operating margin +20bp to 23.9%.

* SSL integration on track: cost synergies of 33m delivered in the half
year.

* Adjusted net income +10% (actual exchange, +12% constant): adjusted diluted
EPS of 109.0p (+10%).

* Net working capital of minus 932m, reflecting a further improvement versus
31 December 2010.

* Net debt of 2,195m (31 December 2010: 2,011m), with strong free cash flow
generation being more than offset by the payment of the final 2010
dividend, the acquisition of Paras Pharmaceuticals Limited and cash
restructuring payments.

* The Board declares a +10% increase in the interim dividend to 55.0p per
share.

Reckitt Benckiser: This will be the first set of trading figures that Reckitt Benckiser's new chief executive, Rakesh Kapoor, has unveiled, due Tuesday 25th Oct

He's fortunate to have inherited a strong business, behind brands such as Cillit Bang and Vanish, but the era of steady sales growth being guaranteed is over. In the first half, European sales fell by 1pc and investors will want to know how Reckitt is coping with an even more competitive environment.

The company is expected to reiterate its full-year target of a 12pc rise in net revenues and a 10pc increase in net income growth, thanks to steady growth in developing markets.

3rd Quarter Results.

Q3 highlights (at constant exchange unless stated):

- LFL growth (excluding SSL and Paras) +4% (+3% ex-RBP).

- SSL net revenue growth of 5% to 227m.

- Total net revenue growth of +15% to 2,448m.

- Adjusted net income +10% (actual exchange, +10% constant).

Year to date highlights (at constant exchange unless stated):

- LFL growth (excluding SSL and Paras) +4% (+3% ex-RBP).

- SSL net revenue growth of +2% on a comparable basis to 652m.

- Total net revenue growth of +15% to 7,069m.

- Adjusted net income +10% (actual exchange, +12% constant).

- Net working capital of minus 941m (YE 2010 914m). Net debt of
2,172m (YE 2010: 2,011m), with strong cash flow offset by two dividends,
acquisitions and restructuring.

Although Reckitt Benckiser lost its shine last week after cautioning of slower growth in the final quarter, the maker of Mr Sheen and Cillit Bang was yesterday wanted for its defensive attractions. With renewed takeover whispers also swilling round, Reckitt rose 57p to 32.55.

Next Wednesday, it's the turn of household products manufacturer Reckitt Benckiser to provide 2011 figures, so it will be interesting to see how that goes.

Forecasts are currently looking reasonably strong, with a full-year dividend of around 3.7% expected. Like Unilever, Reckitt Benckiser -- whose brands include Dettol, Finish, Scholl, Durex, Nurofen and Cillit Bang -- sells its wares in many countries around the globe, which should help compensate for tough conditions in the US, UK and Europe

Reckitt Benckiser to cut profit reports

The household consumer giant Reckitt Benckiser is set to ditch quarterly reporting of profits amid fears that the long-term growth of the company is under threat.

In a move which is likely to lead to downward pressure on the share price, Rakesh Kapoor, the new chief executive, is also expected to announce that the company is shifting its emphasis from America and Europe, where consumers have cut back drastically on their spending, towards emerging markets, especially China where very few of its brands are sold.

Full Year Results.

Solid top at £35 today. Worth keeping an eye on imho.

Splat - I've been short from 3505 for most of the day :-((

patience skinners :-)

12 month high (3688) hit on results.

Reckitt Benckiser was under the weather on Thursday morning after Credit Suisse downgraded its rating on the stock from 'outperform' to 'neutral' and cut its target price to 3,500p from 3,800p. "Reckitt's historical outperformance in the marketplace was driven by its almost unique ability to garner growth from the developed markets, and in particular Europe the broker said in a research note. "This hasn't been the case for two to three years now, and we don't see that changing any time soon. In part it is the market, but market share is also a contributory factor, and competition isn't about to ease off

RB trying £36 again (3 month high just gone)

New high 3858 hit earlier.

3rd Quarter results

Highlights:

* Year to date like-for-like (LFL) net revenue growth (ex RBP) of +4%, driven
by strong Emerging Markets Areas (EM) growth.

* Strong Q3 LFL growth +5% (+5% ex RBP).

* Europe North America (ENA) Q3 LFL growth +2%. This improved performance was
driven by higher brand equity investment (BEI), a good start for the new
Mucinex Fast Max and a stabilising promotional environment in laundry care
and Vanish.

* YTD global growth driven by Dettol/Lysol, Harpic, Finish, Gaviscon, Durex
and Vanish.

* RBP - volume (mg) market share of Film grown to 60% up from 48% at the end
of 2011.

Consumer brand giant Reckitt Benckiser Group is reaching new high ground, after its shares finished Friday on a new 52-week high of 3,783p. That's 23% up on the price's low point of 3,100p set in November 2011, making 2012 a pretty nice year for shareholders.

Firms making consumer staples, like Reckitt Benckiser and Unilever are often considered good "safety" shares during hard times as they tend to be fairly reliable payers of dividends. Reckitt Benckiser kept its dividend growing during the downturn, and Unilever had only one down year in 2009. The share prices of both are doing well this year.

I'm not sure where they get their figures from, but the 52 week high is 3,858p!

Reckitt Benckiser to acquire Schiff Nutrition

StockMarketWire.com

Reckitt Benckiser Group has signed a definitive merger agreement with Schiff Nutrition International, Inc a leading provider of branded vitamins, nutrition supplements and nutrition bars in the US and elsewhere.

The Board of Directors of Schiff has approved the transaction and will recommend that its stockholders tender their shares into Reckitt Benckiser's previously announced cash tender offer of $42.00 per share, valuing Schiff at $1.4 billion.

Reckitt Benckiser's tender offer will expire at 11:59p.m. New York City time, on December 14, 2012, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.

Reckitt Benckiser will finance the transaction with cash and existing credit facilities. The transaction is expected to be immediately accretive to earnings on an adjusted basis.

New high today.

And again today @4080.

And again @4121.


Massachusetts Financial Services Company > 5%

4200 earlier.

New highs today @4356.

12 February 2013

Reckitt Benckiser ANNOUNCES LATAM OTC COLLABORATION

WITH BRISTOL-MYERS SQUIBB

Slough, England - 12 February, 2013 - Reckitt Benckiser Group PLC ("RB") (LSE:
RBL) today announced that it has signed a three year collaboration agreement
with Bristol-Myers Squibb ("BMS") for a number of market-leading
over-the-counter ("OTC") consumer health care brands in Brazil, Mexico and
certain other parts of Latin America (collectively "BMS Assets"), with an
option to purchase at the end of the three year period. The key brands included
under the agreement are:

Brazil Mexico

Naldecon - leading cough & cold brand Tempra - No.1 in adult and pediatric
pain relief

Luftal - No.1 in anti-flatulence Picot - No.1 in antacids

Dermodex - leading nappy rash brand Graneodin-B - No.1 in sore throat


Under this collaboration, RB will licence the brands from BMS, who will
continue to manufacture them for three years.

Rakesh Kapoor, Reckitt Benckiser Chief Executive Officer, said,

"This transaction creates a material consumer health care platform,
infrastructure and distribution network for RB in both Brazil and Mexico. As
such it is an important step in building our consumer health care presence in
Latin American emerging markets.

"These market-leading brands have strong margins and I firmly believe they have
extremely good growth potential. They fit into our existing OTC categories of
pain relief, sore throat, cough and cold, anti-acid, and dermatological and
will benefit from RB's consumer marketing and Innovation capabilities, and our
significant levels of brand equity investment."

Under the terms of the agreement RB will initially pay BMS $482 million to
enter into the arrangement which also includes personnel, supply contracts and
an option to acquire legal title to the related intellectual property at the
end of the collaboration period, based on business performance. The transaction
will be accounted for as a business combination and the Directors are in the
process of revaluing the assets and liabilities acquired to fair value,
including the value of any acquired intangible assets. Under the terms of a
separate supply agreement BMS will be RB's supplier of the products during the
collaboration period.

BMS Assets had unaudited reported net revenue for the year ended 31 December
2012 of $102 million.

We expect the transaction to be EPS* accretive from 2014 under IFRS. Excluding
the amortization we expect it to be immediately EPS* accretive(1).

The collaboration will come into effect following regulatory approvals,
including anti-trust approvals in the relevant jurisdictions. This is expected
to be completed in Q2 2013.

*Adjusted results exclude the impact of exceptional items

(1) Under IFRS a fair value of the collaboration agreement is required to be
calculated and amortized over the collaboration period.

ENDS

FY Results 2012

Highlights: Full Year

- LFL +5% ex RBP (+5% incl. RBP), well ahead of our market growth, driven by
Emerging Market Areas and Europe North America (ENA).

- Health & Hygiene led growth; Durex, Gaviscon, Strepsils, Dettol, Lysol,
Harpic and Finish.

- Increased brand equity investment (BEI) of £100m1, +70bps, (ex RBP).

- Gross margin +50bps to 57.9%. "Project Fuel" targets fully achieved.

- Adjusted operating margin** +70bps to 26.9% via gross margin expansion and
early ENA cost savings.

- Adjusted net income** +7% (+10% constant): adjusted diluted EPS of 264.4p
(+7%).

- Net working capital of minus £700m (2011: minus £701m).

- Net debt after dividends, acquisitions and restructuring of £2,426m (2011:
£1,795m).

- The Board recommends an +11% increase in the final dividend to 78p per share
bringing the total dividend for 2012 to 134p (+7% versus 2011).

Highlights: Q4

- Q4 LFL growth +6% ex RBP (+7% incl. RBP), reflecting steadily improving
in-year performance.

- Further improvement in ENA +3% LFL, assisted by higher incidences
of cold and flu.

Dividends. The Board of Directors recommends a final dividend of 78
pence (2011: 70 pence), an increase of +11%, to give a full year dividend of
134 pence (2011: 125 pence), an overall increase of +7%. The dividend, if
approved by shareholders at the AGM on 2 May 2013, will be paid on 30 May to
shareholders on the register at the record date of 22 February. The
ex-dividend date is 20 February and the last date for election for the share
alternative to the dividend is 8 May. The final dividend will be accrued once
approved by shareholders.

Prime Markets - RB. is a buy with target price £47

Up another quid today.

£45 quid this morning.

These are making new highs almost daily of late.

no wonder HG+HC index continues to spiral

Just £46.26 so far today!

here's the answer to today's slump .....

Consumer products group Reckitt Benckiser was the worst performer, slumping 182.5p at 4,333.5p on news the US FDA has given the go-ahead to rival drug manufacturers to produce a generic version of the company's Suboxone product in the US. In response, Investec downgraded its recommendation on the stock to sell from hold

==============

i would guess the drop is overdone as is the nature of these things, though when wall street opens today, there may be further selling ...... worth keeping an eye on HG+HC index, as a buying opportunity may be on the near horizon after this sharp correction - but be very aware that its volatility is scary

25 February - Deutsche bank - RB. still a buy and retains its price target of £48.
Investec did downgrade from hold to sell but retained its TP of £42.60.

Reuters take :-

Reckitt loses bid to change U.S. drug packaging rules

(Reuters) - The U.S. drugs regulator has rejected goods manufacturer Reckitt Benckiser's call for stricter packaging for its heroin addiction treatment, instead approving generic production for the drug.

The British company's pharmaceuticals division makes most of its profit from Suboxone, a treatment containing buprenorphine, for recovering heroin addicts.

Last year, Reckitt voluntarily withdrew the sale of Suboxone tablets in the U.S. in favor of an individually sealed film version, citing a higher risk of children mistakenly getting their hands on the tablets.

Credit Suisse Neutral 4,581.50 4,516.00 4,250.00 4,900.00 Reiterates

Bank of America Merrill Lynch retains buy and raises target to £52.50

INTERIM MANAGEMENT STATEMENT Q1 2013


Highlights: Q1 (at constant rates)

* Total net revenue growth of +7%. Ex. RBP growth +6%.

* LFL net revenue growth excluding RBP of +6%.

* Continued very strong growth in Emerging Market Areas. +3% LFL growth in
ENA.

* Strong underlying growth across Health & Hygiene boosted by higher
incidence of flu. Good performance from Mucinex, Strepsils, Nurofen, Durex,
Dettol / Lysol & Finish.

* Schiff integration progressing well; strong Q1 on both Schiff and Guilong
China.

* RBP - total US market volume film share 69%, early generic tablet impact as
expected.

Credit Suisse Neutral 4,700.00 4,900.00 4,650.00 Reiterates

Nomura Buy 4,700.00 4,900.00 4,800.00 Retains

Bank of America Merrill Lynch Buy 4,700.00 5,250.00 5,250.00 Retains

but sp shows why today's "clunk" on HG+HC index

Half-Year Results 2013

3rd Quarter Results

Highlights:

* Year to date like-for-like (LFL) net revenue growth (ex RBP) of +5%, driven
by Emerging Markets Areas (EM) growth and continued growth in ENA.
* Strong Q3 LFL growth of +5% (ex RBP) - ENA +2% LAPAC +10% and RUMEA +5%.
* Continued excellent Health & Hygiene performances, and a solid Home
performance in challenging market conditions.
* RBP - volume (mg) market share of Film maintained at around 68% since
launch of generic tablets and strategic review of RBP to commence.

Investec & Liberum both gave 'sell' ratings yesterday!

Investec after results today have upgraded their sell rating to hold

Canaccord Genuity Sell 4,729.50 4,500.00 4,100.00 4,100.00 Reiterates

Societe General retains hold but ups target price to £47.50
Deutsche Bank retains but and price target £51.

http://www.standard.co.uk/business/markets/city-loves-suspense-as-reckitt-works-out-what-path-to-take-9111772.html

The owner of Clearasil, Cillit Bang and Dettol was cleaning up today when rumours of M&A activity re-emerged and the City rated the stock a Buy.

Two issues surrounding consumer goods giant Reckitt Benckiser have got the tension mounting: first, it has recently been linked to a potential bid for US group Merck’s consumer healthcare business — valued at up to $10 billion (£6.1 billion) — which includes Coppertone sun cream and second, some in the Square Mile are waiting for Reckitt to flog its drugs business with an estimated price tag of between £1 billion and £4 billion.

Credit Suisse today raised its rating of the group to outperform ahead of results next week. Credit Suisse said that although there are issues with drugs — its heroin- substitute medicine faces generic and branded competition — this part of the business only makes up “15% of the profits” and investors should remember the group has a much wider portfolio. Credit Suisse raised its price target to 5200p as the shares jumped 124p to 4781p — top of the blue-chip league table. Panmure Gordon said: “A key strength of Reckitt has been its ability to find attractive consumer healthcare acquisitions… We believe [M&A] would create a more attractive group, but we still don’t see any material ‘hidden value’ in Reckitt’s shares.” So they rated it neutral with a 4625p target price.

Full Year Results 2013

Highlights: Full Year

· Total growth (ex RBP, constant) of +7% - exceeding targets. Acquisitions outperforming initial growth expectations on the back of rapid integration and synergy delivery.
· Net revenue LFL +5% growth (ex RBP) - sustained strong performance from ENA (Europe and North America) and LAPAC (Latin America and Asia Pacific). RUMEA (Russia, Middle East and Africa) LFL growth +5%.
· High quality, Health & Hygiene led growth; Durex, Mucinex, Strepsils, Dettol, Lysol, Harpic and Finish particularly strong, offsetting planned streamlining of portfolio brands.
· Significant gross margin expansion of +150bps to 59.4%, driven by mix, pricing, cost optimization initiatives and Private Label discontinuation.
· Continued increased investment in sustainable growth. +£100m BEI (+30bps) - ex RBP.
· Operating profit (ex RBP)** adjusted +7% (constant). Margins up +20bps to 23.6% - exceeding targets.
· Adjusted net income +2% (+2% constant): adjusted diluted EPS of 269.8p (+2%).
· Net working capital improvement of £163m to minus £863m - better receivables and inventory.
· Net debt reduced by £0.3bn to £2.1bn (2012: £2.4bn). Free cash flow > 100% of net income.
· The Board recommends a final dividend of 77p per share bringing the total dividend for 2013 to 137p (+2% versus 2012).
· RB Pharmaceuticals (RBP) - Net revenue -8% (constant), ahead of expectations as US Film share maintained; strategic review underway.

Highlights: Q4 / H2
· Q4 net revenue LFL growth +4% (ex RBP) reflecting continued strong performance from Health/Hygiene Powerbrands in challenging market conditions.
· Q4 total growth + 7% (ex RBP, constant), reflecting excellent performance from Schiff and a strong start with BMS in LATAM.
· H2 operating margin (ex RBP) +70bps, driven by gross margin expansion.


Commenting on these results, Rakesh Kapoor, Chief Executive Officer, said:

"Our strategy for growth and outperformance through driving Health and Hygiene Powerbrands together with our focus on 16 Powermarkets is delivering results. We are pleased with the continued strength of our ENA - Europe and North America performance. And while emerging markets continue to slow, we delivered very strong results in India and China.

We continue to invest in our business to drive sustainable value creation. In 2013, we invested an incremental £100m behind building our brands. We also made substantial investments in building capabilities to compete and win in consumer health and emerging markets.

We made excellent progress with our acquired businesses. The effective integration of Schiff, BMS and Guilong, once again reinforces RB's proven strengths in acquiring high quality businesses and delivering superior shareholder value. I am especially pleased with our performance on Schiff brands. Our decision to roll out MegaRed in 20 markets in 2014 is a reflection of our confidence in the future potential of this category.

For our pharmaceutical business, RBP, the advantages of our Suboxone film are widely recognised by patients and physicians, and this gives our product strength as it faces branded challenge and generic price challenge. Our film share in the US exited the year at 68%, which is an exceptional result. As announced in October, the strategic review of RBP is underway. We will provide an update during the course of 2014.

Market conditions are more challenging now than at the beginning of last year, particularly in some emerging markets. However, we have confidence that our pipeline of innovations, Powerbrand roll-outs and brand investments will deliver another year of high quality growth. Accordingly, we are targeting net revenue growth of 4-5%1 and flat to moderate operating margin expansion. Both targets exclude RBP."

All time high @5,100.

1st Quarter Results

Highlights: Q1 (at constant rates)

· Total net revenue growth (ex RBP) of +5% and LFL net revenue growth (ex RBP) of +4%.

· Strong performance in ENA against tough comparatives.

· Sustained growth in LAPAC and RUMEA in challenging markets.

· Excellent growth and outperformance in Health. Strong innovation and sell-in offsetting tough comparatives.

· Hygiene reduced by strong Dettol / Lysol comparatives and planned trade de-stocking in Middle East.

· RBP - total US market volume film share 64% - excellent result. Strategic review progressing well. Capital markets solution is emerging as a strong option.

· Strong foreign exchange headwind of -9%, as signaled with full year numbers.

Reckitt Benckiser Says Its On Track to Meet its Goals
By Matthew Boyle Apr 16, 2014 8:31 AM GMT

Reckitt Benckiser Group Plc (RB/), the maker of Lysol disinfectants, said a separate stock listing is a “strong option” for its pharmaceutical business as it posted first-quarter revenue growth that matched analysts’ estimates.

Non-pharmaceutical sales rose 4 percent, excluding acquisitions, disposals and currency moves, the Slough, England-based company said today in a statement, matching the median estimate of 11 analysts surveyed by Bloomberg. A spinoff or initial public offering of the pharmaceutical unit, rather than a sale of the business, “is emerging” as a possible option, the company said.

“This news signifies the difficulty that Reckitt is having in finding a trade buyer,” Exane BNP Paribas analyst Eamonn Ferry said in an e-mail. “We would not be surprised if this is the case.”

Chief Executive Officer Rakesh Kapoor, faced with slowing growth in some emerging markets and prolonged weakness in Europe, is reviewing the pharmaceutical unit in order to push further into consumer health care through acquisitions and new product development. The company is the frontrunner to buy Merck & Co.’s over-the-counter drugs business, people with knowledge of the matter have said, which would push its health division to more than one-third of sales from about 30 percent.

Reckitt Benckiser shares rose as much as 2 percent to 4,950 pence in London trading. The stock has advanced 2.5 percent so far this year.
Pharmaceutical Revenue

Revenue at the pharmaceutical unit, which makes the opioid-dependency drug Suboxone, declined 11 percent in the quarter as generic versions, introduced last year, continue to grab sales. The market share of Suboxone’s newer film variant, which has narrower profit margins than the tablet that the company discontinued last year, declined by 4 percentage points to 64 percent, the company said.

The maker of French’s mustard said it would provide more information on the Suboxone strategic review when it reports half-year results in July. An April 4 note from JPMorgan said a spinoff of the business “looks increasingly most likely,” and valued the business at 1.3 billion pounds ($2.2 billion).

The company reiterated its forecast for revenue to increase 4 percent to 5 percent at constant currency rates, excluding the pharmaceuticals unit. Total sales at constant rates of exchange increased 3 percent to 2.37 billion pounds ($4 billion), compared with the 2.38 billion-pound average estimate.

Sales at the company’s health division rose 11 percent, a “hugely impressive” figure, according to analyst Graham Jones at Panmure Gordon.

Sales in Europe and North America rose 2 percent, helped by new products and increased distribution of health brands like Scholl footcare and Durex condoms. The U.S. had a “tougher” quarter, the company said, hurt by comparisons to growth in last year’s first quarter.

To contact the reporter on this story: Matthew Boyle in London at mboyle20@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net David Risser

Nice work if you can get it - Director/PDMR Shareholding

Half Yearly Report

Highlights: Half Year (HY) unless otherwise stated

· LFL net revenue growth +3% (+4% ex RBP) driven by excellent consumer health performance.

· Q2 LFL net revenue growth +3% (+4% ex RBP).

· Gross margin improvement +60bps to 59.3%.

· Continued strong investment in brand equity (BEI) with improved efficiency.

· Adjusted operating margin (ex RBP) +40bps to 20.8%.

· Continuing operating margin expansion targeted for second half (ex RBP).

· Adjusted net income -4% (+7% constant); adjusted diluted EPS of 113.4p (-4%).

· Strong free cash flow generation of £729m, a conversion rate of 90% of net income.

· The Board declares an interim dividend of 60p per share (2013: 60p).

· RB Pharmaceuticals strategic review - pursuing a UK listed de-merger.

Interim Management Statement

Highlights:

· YTD LFL growth +3% (+4% ex RBP) driven by strong consumer health performance.

· Q3 LFL growth +2% (+3% ex RBP) - strong growth in RUMEA, offset by slower markets in South East Asia and LATAM. Robust ENA performance in tough markets.

· RBP expected to be demerged prior to year end.

· Full year targets reiterated: revenue (at lower end of range) and margin (continuing margin expansion).

Proposed Demerger of the RB Pharma business

Following the announcement made by Reckitt Benckiser Group plc (RB) on 28th July 2014 that it was pursuing a demerger of the RB Pharmaceuticals (RBP) business with a separate UK listing, RB today announces the detailed proposed timetable for the demerger (the Demerger).

· New demerged RBP company, to be called Indivior PLC (Indivior), will be UK domiciled and admitted to the premium listing segment of the Official List and traded on the London Stock Exchange's main market for listed securities.
· RB circular to shareholders and Indivior prospectus will be published later today setting out the background to, and reasons for, the Demerger and detailed information on Indivior.

· RB General Meeting to approve the Demerger will be held on 11 December 2014.

· If the Demerger proceeds, RB Shareholders who are registered on the RB share register at the Demerger record date will receive one Indivior ordinary share for each RB ordinary share held.

· Demerger expected to complete and Indivior shares to commence trading on 23 December 2014.


The Board of RB considers that the Demerger is in the best interests of both RB and Indivior and will result in a stronger future for both RB and Indivior, with the Boards of each company focused on developing their respective businesses into leaders in their specific sectors. In particular, the Board of RB considers that the profile and potential risks and rewards of Indivior, as a specialty pharmaceuticals company, will be better understood as a standalone listed business. RB will continue its focus as a consumer health and hygiene company.

Final Results

Highlights: Full Year (ex RBP unless stated)

· Total and LFL net revenue growth of +4% - in line with targets.
· Strong ENA (Europe and North America) performance LFL +2% and significantly improved growth from RUMEA (Russia, Middle East and Africa) LFL +11%. LAPAC (Latin America and Asia Pacific) grew LFL +5%
· High quality, Health & Hygiene led growth of +5%.
· Strong gross margin expansion +100bps to 57.7%, driven by mix, pricing, and cost optimisation initiatives.
· Increased investment in brand equity. BEI +£30m (constant) -10bps.
· Strong (adjusted) operating profit growth of +11% (constant). Margins up +160bps to 24.7%.
· Adjusted net income +4% (+14% constant): adjusted diluted EPS of 230.5p (+4%).
· Net debt reduced by £0.6bn to £1.5bn (2013: £2.1bn). Free cash flow circa 100% of net income.
· A further £500m, in addition to our existing c.£300m share buyback programme in 2015.
· RB top-ranked company in UK, #7 overall in Global 100 index, one of the world's leading sustainability indices for global equity investors
· The Board recommends a final dividend of 79p per share. Total dividend for 2014 139p (+1% versus 2013).

Highlights: Q4 / H2
· Q4 net revenue LFL growth +5% - broad based growth from Health, Hygiene and Home.
· H2 operating margin +260bps (+140bps recurring), driven by gross margin expansion and cost efficiencies.
· Demerger of RBP / Indivior successfully completed.


Other

· Supercharge project announced - to drive sustainable operating margin expansion off 2014 base. Estimated £100-150m annualised savings. Associated exceptional costs of approximately £200m.

Dividends. The Board of Directors recommends a final dividend of 79 pence (2013: 77 pence), to give a full year dividend of 139 pence (2013: 137 pence), an overall increase of +1%. The dividend, if approved by shareholders at the AGM on 7 May 2015, will be paid on 29 May to shareholders on the register at the record date of 17 April. The ex-dividend date is 16 April and the last date for election for the share alternative to the dividend is 7 May. The final dividend will be accrued once approved by shareholders.

Capital returns policy. RB has consistently communicated its intention to use its strong cash flow for the benefit of shareholders. Our priority remains to reinvest our financial resources back into the business, including through value-adding acquisitions. Through continued strong cash generation the Group has reached a net debt level of approximately GBP1.5bn. It is not possible to be definitive on future needs, but we consider that this provides the Group with appropriate liquidity.

We intend to continue our current policy of paying an ordinary dividend equivalent to around 50% of adjusted net income. In addition, we plan to supplement the current share buyback policy which broadly neutralizes incentive plan share issuance (c. GBP300m p.a.) with an additional up to GBP500m share buyback programme in 2015.

Full year results http://www.moneyam.com/action/news/showArticle?id=5212976

StockMarketWire.com
Investec has removed Reckitt Benckiser (LON:RB.) from its list of stocks to avoid and moved to a more moderate hold rating (from sell) after revising up its mid-term sales growth outlook from 4 per cent to 5 cent, on the back of the company's latest results.

The broker added: "A transformational consumer health deal (at the right price) could add a compelling leg to the investment case, although scarcity of available assets seemingly remains an obstacle."

Analysts have also raised their target to 6,600 pence a share (from 5,210 pence), implying a forecast total return of 5.8 per cent.

Don't you just love these analysts!

Half year report: http://www.moneyam.com/action/news/showArticle?id=5597368

Reckitt Benckiser endured a "soft" third quarter amid a continued challenging market and has downgraded its full year guidance. With like-for-like net revenue down -1% in the year to date, the base RB business is now expected to be flat for the full year, while guidance for newly acquired Mead Johnson was kept at '-2% to flat'.

Q1 2018 Trading Update

Highlights: Q1 (at constant rates)

· Proforma growth of +3% (+2% LFL). Proforma and LFL growth were both volume-led (+3%).

· RB 2.0: good progress in both business units.

· Health performance +3% proforma (+1% LFL) against a backdrop of strong trends in IFCN growth and seasonal tailwinds in the US. Strong performances in Gaviscon, Mucinex, Strepsils and VMS brands but significant underperformance in Scholl. Middle East macro issues impacting Dettol.

· Mead Johnson Nutrition (MJN) performance continues to progress well with proforma growth +6% for Q1. Strong market growth in Greater China, and sell in of Enfamil Neuro Pro innovation in the US reinforces the strong fundamentals of this category.

· Hygiene Home had a strong start to the year at +4% LFL driven by a combination of improved in-market execution, seasonal benefit to Lysol in the US and sell in of our new innovations in Finish and Air Wick.

· On track for our full year net revenue target of +13-14% (total constant), implying +2%-3% LFL*.

more.....

Q3 2018: Trading Update

Highlights

· LFL growth in Q3 of +2%. Continued momentum under RB 2.0, with growth in base Health and Hygiene Home businesses of +4% LFL. Total growth was negatively impacted by -2% (£70m) from a temporary manufacturing disruption at our European IFCN plant.

· LFL performance in Total Health was flat, comprising IFCN of -6% and Rest of Health of +4% driven by continued strong growth in OTC and improving trends in Wellness and Health Hygiene brands.

· LFL growth in Hygiene Home of +4%. Continued momentum with strong performances from Finish, Air Wick and Lysol in ENA and Harpic in DvM.

· We remain on track for the full year net revenue target of +14-15% (total constant), implying LFL revenue growth at the upper end of +2-3%.

more.....

Liberum Capital Buy 6271.00 7600.00 Reiterates

Reckitt Benckiser Group announced on Wednesday that Rakesh Kapoor had indicated his intention to retire as chief executive officer by the end of 2019. The FTSE 100 company said he would have served more than eight years as CEO, and 32 years at the firm, by the time he steps down. Its board confirmed it had initiated a formal process to appoint his successor, considering both internal and external candidates.