Reckitt Benckiser Posts Strong First-Half Performance, Shares Surge
Reckitt Benckiser Group PLC, a stalwart in the consumer staples sector, has delivered a resounding first-half performance, with adjusted like-for-like revenues rising 5.3% in the second quarter. This impressive showing has been met with a corresponding increase in the company’s share value, underscoring investor confidence in the business.
The company’s commitment to returning value to shareholders has also been reinforced, with the announcement of a new £1 billion share buyback program. This strategic move is expected to further boost investor sentiment and provide a tangible demonstration of the company’s dedication to maximizing shareholder returns.
In addition to the share buyback program, Reckitt Benckiser has also declared an interim dividend of 84.4p per share, representing a 5% increase over the previous period. This decision reflects the company’s confidence in its financial position and its ability to reward shareholders for their loyalty.
Looking ahead, Reckitt Benckiser has revised its full-year guidance, now anticipating growth in full-year like-for-like core revenues of over 4%. This upward revision, which represents a 1% increase over the previous range, underscores the company’s optimism regarding its prospects and its ability to outperform expectations.
Key Highlights:
- Adjusted like-for-like revenues rose 5.3% in the second quarter
- Share buyback program of £1 billion announced
- Interim dividend increased by 5% to 84.4p per share
- Full-year guidance revised to over 4% growth in like-for-like core revenues