Reckitt Benkiser Group Plc's Board of Directors recommends an interim 2023 dividend of 76.6 pence, an increase of 5% (2022: 73.0 pence). The ex-dividend date will be 3 August 2023 and the dividend will be paid on 15 September 2023 to shareholders on the register at the record date of 4 August 2023.
Other financial highlights include:
The strong first-half performance across their business units and through their earnings model reflects continued delivery from the investments they have made. They delivered like-for-like net revenue growth of +6.0%, drove gross margin expansion and increased brand investment (by around £100m) behind their innovation programme.
Group like-for-like (LFL) net revenue growth of +6.0%. Growth was broad-based across their Global Business Units (GBUs), with a strong innovation programme. On an IFRS basis net revenue grew by +8.1%.
Hygiene LFL net revenue growth of +3.6%. Growth was driven by Finish, Harpic, Vanish and Air Wick, and underpinned by early success of innovation launches.
Health LFL net revenue growth of +8.8%. Growth was led by their OTC portfolio and Intimate Wellness brands with an improving performance in China. Dettol declined by mid-single digits with category decline and in-market challenges across certain Asian markets - they expect an improvement in H2.
Nutrition LFL net revenue growth of +5.3%. Continued strong market share in North America and mid-single digit growth in LATAM, against the lapping of tough prior year comparatives due to the US competitor supply issue.
Adjusted operating margin of 23.8% (-180bps). Productivity efficiencies and carry-over pricing drove gross margin expansion, and funded increased investment behind innovation launches.
Adjusted diluted EPS of 173.0p (-3.1%). Net revenue growth and positive impact from foreign exchange is offset by lower operating margins and a higher effective tax rate.
