The company said that it posted a 3 per cent increase in net revenue for the second quarter at constant exchange rates, to reach £2.31bn, a figure that was negatively impacted by foreign exchange rates to the tune of 1 per cent.
Like-for-like revenue growth for the six months was up 4 per cent, a similar result to the corresponding period last year.
Net revenue increased by 4 per cent at constant exchange rates for the first six months of the year, to reach £4.7bn, a result that was also impacted negatively by 1 per cent due to foreign exchange rates.
Net income boosted by currency translations
Net income on a reported basis was up 5 per cent to £779m, a figure that was positively impacted by 3 per cent due to foreign currency translations, while the adjusted net income increased by 4 per cent to £818m.
Approximately half of Reckitt Benckiser sales are attributed to personal care and hygiene products, which include brands such as Dettol hand wash, High Performance for Men, Veet and Durex.
“Six months into our Purpose driven strategy, Reckitt Benckiser has delivered revenue growth well ahead of our market. On a LFL basis (ex RBP), net revenue growth of 4 pe cent was driven by continued excellent performance from Emerging Market Areas and Hygiene Brands such as Dettol, Lysol and Finish,” said Rakesh Kapoor, Reckitt Benckiser Chief Executive Officer .
“While the consumer and competitive environment in Europe and North America remains challenging, we are doing the right things for the long term by increasing our Brand Equity Investment.”
The company says that the results of the first half of the financial year, combined with a raft on new product launches mooted for the second half, indicate that full year expectations remain on target, with revenues likely to be above the current market growth rate of 1 – 2 per cent.
Benckiser empire eyes further growth and synergies
Reckitt Benckiser is owned by the German Benckiser family, a multi billion dollar investment business that also owns a majority stake in France-based fragrance players Coty.
The financial success of these companies in recent years has led to a business empire that has significant financial backing and impetus, as well as some synergies.
Recently Coty announced a $700m IPO aimed at making further investments in either the fragrance of cosmetics and personal care arena.