Reckitt Benckiser

Ticker RB.

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As of 23:15 13 Dec 2018
Market cap. Pound sterling
44,563.72 million
As of 23:15 13 Dec 2018

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Reckitt Benckiser tops FTSE 100 risers

Reckitt Benckiser products

The FTSE 100 has extended gains and is now 0.54% ahead at 7,704.73.

Consumer products giant Reckitt Benckiser continues to lead the risers, with its share price up 7.4% at £67.84 after lifting its full-year guidance on sales.

It is followed by BT Group which released first quarter figures earlier this morning and its share price is now up 3.8% at 233.6p.

A company whose results don't seem to have gone down well with investors is Rightmove, the online estate agency. After reporting interim figures, its share price is the biggest blue chip faller, down 3% at £49.33.

The FTSE 250 has recovered from earlier falls and is now up 0.27% at 20,824.34.

BP investors send shares sliding

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Reckitt Benckiser has soared to the top of the FTSE 100 in early trading, up 7.7% at £65.32, after raising its guidance on full-year sales (see post at 7:35am).

BT shares are up 3.7% at 233.28p after revealing its first quarter figures.

BP's investors have given their verdict on the company's decision to pay more than $10bn for BHP's US shale assets - shares are leading the FTSE 100 fallers, down 2.8% at 552.25p.

The wider FTSE 100 is up 0.31% at 7,687.03.

Reckitt lifts sales guidance

Nurofen products

Reckitt Benckiser, the maker of Durex, Nurofen and Strepsils, has raised its sales guidance for its current financial year. It now expects total net revenue growth to be up between 14% and 15%, previously it has been expecting an increase of between 13% and 14%.

The purchase last year of Mead Johnson, a maker of baby foods appears to be paying off. Mead Johnson is now part of Reckitt's Infant Formula and Child Nutrition (IFCN) division, which is seeing strong sales growth.

In the second quarter sales were up 23% at £3.02bn, like-for-like growth was up 4%.

Poor sales lead to share price fall for Hull firm Reckitt Benckiser

Shares in Hull based company Reckitt Benckiser have fallen 6% today, after the company revealed disappointing sales in the first quarter of this year.

Bottles of cleaning products made by Reckitt Benckiser, on a shelf.

Reckitts which owns brands like Dettol and Durex, saw a 2% rise in sales on a like-for-like basis.

City analysts had been expecting a 2.6%.

The company blamed "significant underperformance" from Scholl, part of its health division.

Reckitt has 'solid' end to year

Dettol and cleaning products

Household products giant Reckitt Benckiser, whose products include Nurofen and Dettol, says it has had a "solid end to the year".

The firm paid a whopping $17.9bn (£12.8bn) for baby formula maker Mead Johnson last year. It said the integration of the division was on track with the company growing again after nine consecutive quarters of losses.

Overall for the firm like-for-like sales, which strip out sales from new divisions, rose 2% in the fourth quarter and were flat for the year as a whole.

Net income, excluding discontinued operations, rose 4%.

Reckitt shares slump on flat earnings

Can of baby formula
Getty Images

Shares in household goods giant Reckitt Benckiser have fallen 2.8% or 183p to 6,385p after it posted flat revenue figures today.

The Durex-to-Dettol company reported full year revenue figures of £11.5bn, although total reported growth was 21%.

Meanwhile analysts at Liberium have rated the company as a buy with an 8,000 target price.

Reckitt share price fall deepens


Reckitt Benckiser's share price fall has deepened since this morning with them now trading almost 7% lower.

The household products maker, whose brands include Durex and Dettol, reported flat annual sales for the year.

The share price fall - if it lasts today - will result in its worst day of trading in almost seven years.

"The return to growth in last quarter should be a positive sign but investors are still a little spooked by the preceding quarters and uncertain about whether management is righting the ship," says ETX Capital analyst Neil Wilson.