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/

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.