Consumer goods giant Reckitt Benckiser (RB.) has released its first set of slimmed-down results since spinning off its underperforming pharmaceutical division Indivior (INDV) through an IPO in December. Reckitt decided on the demerger so it could better focus on its core products in the consumer goods and consumer health divisions. It maintained control of a number of over-the-counter medicines, including digestive aid Gaviscon and cough and cold treatment Mucinex.
Even without the drag from Indivior, sales at Reckitt dipped last year, but that was largely due to currency effects. Strip these out and revenue rose 4 per cent to £8.84bn, thanks in particular to strong organic growth in Russia, the Middle East and Africa. On the same basis, adjusted operating profit rose 11 per cent to £2.19bn as the margin rose 160 basis points to 24.7 per cent.