Reckitt beats forecasts despite chief’s shock exit

first_img John Dunne whatsapp Show Comments ▼ whatsapp Wednesday 20 April 2011 8:08 am Share Reckitt beats forecasts despite chief’s shock exit More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Reckitt Benckiser beat first-quarter earnings forecasts – boosted by its SSL recent acquisition after last week’s surprise news that chief executive Bart Becht was to retire sent its shares tumbling.The British maker of Cillit Bang cleaners and Nurofen painkillers which took over Durex condoms and Scholl sandals maker SSL late last year, said it was sticking to its financial goals for 2011 as it aimed to outperform its markets.Reckitt is looking to offset increased costs for inputs such as crude oil, plastics, palm oil and rubber with price rises and cost savings, and looks for growth in emerging markets as it faces tough markets in Europe and North America which account for nearly two-thirds of group sales.“Reckitt Benckiser got off to a strong start in the first quarter of 2011,” said Becht in a results statement.The group, which also makes Air Wick air fresheners, Vanish fabric cleaners and Finish dishwash products, reported first-quarter earnings rose 10 percent to 52.2 pence a share, beating a company-compiled consensus of 51.8p.Reckitt reiterated its 2011 goals to see underling sales to rise four per cent and profit growth above that from its businesses, excluding SSL but including its Suboxone drugs unit. First quarter sales and profit on this basis rose five and ten per cent. Tags: NULLlast_img

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