Reckitt Benckiser: Asia will make up for struggle in Europe
Reckitt Benckiser predicts it will increase profits by 16% in the next year as rising sales in Brazil, India and East Asia more than compensate for tough trading in Europe and North America.
Chief executive Bart Becht, unmoved by criticism of his £90 million pay for last year, says the Cillit Bang-to-Dettol firm will prosper as new products such as Airwick Aqua Mist take off. He is looking for sales growth of 6%.
The firm hopes the acquisition of Durex condom-maker SSL, which it completed this week, will improve overall growth.
The Slough-based company posted a 19% rise in profit to £426 million for the three months to September. Revenue rose 11% to £2.11 billion — ahead of City forecasts.
"The consumer environment continues to be challenging," said Becht.
Shares rose 61p to 3560p, valuing the business at £26 billion.
