Reckitt Benckiser posts lower annual profits

12th February 2014, Comments 0 comments

British household goods firm Reckitt Benckiser said Wednesday that profits dipped last year amid slowing demand in emerging markets.

Earnings after taxation dipped 4.5 percent to £1.74 billion ($2.87 billion, 2.09 billion euros) in 2013, compared with £1.82 billion in 2012, Reckitt said in a results statement.

Pre-tax profits eased 2.6 percent to £2.31 billion, while total revenues climbed almost five percent to £10.04 billion.

"We are pleased with the continued strength of our ... Europe and North America performance," Chief executive Rakesh Kapoor said.

"And while emerging markets continue to slow, we delivered very strong results in India and China."

Reckitt's top-selling brands include household cleaner Cillit Bang, Durex condoms and Nurofen/Nureflex pain relief tablets.

"Market conditions are more challenging now than at the beginning of last year, particularly in some emerging markets," added Kapoor.

"However, we have confidence that our pipeline of innovations, powerbrand (product) roll-outs and brand investments will deliver another year of high quality growth."

The group had announced in October that it would undertake a strategic review of its drugs division, Reckitt Benckiser Pharmaceuticals (RBP). It said Wednesday that it will provide an update on the review this year.

© 2014 AFP

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