Reckitt Benckiser reports ‘excellent’ first quarter

Reckitt Benckiser has announced its financial results for the first quarter of the 2007 fiscal year, with the firm reporting robust growth and “excellent” figures for the period.

The company generated revenues of 1,258 million pounds, an increase of eight per cent on the same quarter last year, with a 63 per cent rise in net income to 179 million pounds on a reported basis.

During the quarter, the company realised cumulative synergies of 14 million pounds, leaving the company on course to reach its aim of 80 million pounds a year ahead of schedule.

Bart Becht, chief executive officer of the firm, said: “Reckitt Benckiser had an excellent first quarter with very good growth on the base business – ten per cent like-for-like – and the BHI [Boots Healthcare International] business acquired in early 2006.”

He added that the company had seen growth in all regions and in all divisions, while the firm was planning on increasing its revenue growth targets for the year from six per cent up to between seven and eight per cent.

In January 2007, Reckitt Benckiser announced a review of all possible options relating to Hermal, the prescription skincare firm purchased as part of BHI.