Feb 18, 2019
Reckitt Benckiser revives growth as Rakesh Kapoor nears exit
Growth in India and Brazil helped Reckitt Benckiser overcome the drag from manufacturing disruption at a baby formula factory to hit its annual growth targets. The UK consumer goods group, which makes Durex condoms, Cillit Bang cleaners and Nurofen painkillers delivered 4 per cent like-for-like sales growth in the fourth quarter. The results come soon after chief executive Rakesh Kapoor announced he would step down by the end of this year, capping more than eight years at the helm of Reckitt Benckiser. Reckitt Benckiser shares fell nearly 11 per cent last year, compared to a 15 per cent decline in the MSCI Europe Consumer Staples index. The company's shares have recovered to rise about 1 per cent so far this year, helped by the rally in global equities and an almost 9 per cent rise in the European consumer staples index.
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