(Alliance News) – Reckitt Benckiser on Thursday posted a full-year loss but beat expectations on the revenue front, with the health and hygiene products maker looking towards a margin improvement in the year ahead despite inflationary pressures.
Shares in Reckitt were up 4.6% at 6,074.00 pence each in London early Thursday, making it the top performer in falling FTSE 100 index.
Hygiene and household goods firm Reckitt said revenue in 2021, lapping tough comparatives, fell 5.4% to GBP13.23 billion from GBP13.99 billion. At constant currency, the decline was 0.3%. However, this topped company-compiled consensus of GBP13.18 billion.
Excluding the contribution of its former Infant Formula & Child Nutrition business in China, Reckitt’s annual revenue fell 2.1% to GBP12.85 billion from GBP13.13 billion, though beat expectations of GBP12.80 billion. At constant currency rates, revenue by this measure was up 3.3%.
Reckitt back in June agreed to sell the business to Primavera Capital Group for USD2.2 billion. The disposal was completed in September.
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