SLOUGH (dpa-AFX) - Reckitt Benckiser Group plc (RBGPF.PK, RB.L) reported Tuesday that its first-half loss before income tax was 1.94 billion pounds, compared to last year's profit of 1.44 billion pounds.
Loss per share from continuing operations was 245.8 pence, compared to earnings per share of 144.2 pence a year ago.
The results reflected a post-tax loss of 2.4 billion pounds on re-measurement of IFCN China to its fair value.
Adjusted profit before income tax was 1.31 billion pounds, compared to 1.56 billion pounds a year ago.
Adjusted earnings per share from continuing operations was 142.6 pence, compared to last year's 166.5 pence.
Total net revenue was 6.60 billion pounds, down 4.5 percent from 6.91 billion pounds last year, reflecting foreign exchange headwinds of 6 percent.
Like-for-like net revenue for the group grew 1.5 percent.
Further, the company said its dividend in first half is recommended to be 73.0p, in line with last year.
Looking ahead for the year 2021, Reckitt Benckiser continues to expect like-for-like net revenue growth to be within the 0-2 percent range set out in February 2021.
The company expects the third quarter to be slower due to stronger prior year comparators.
The guidance which now excludes IFCN China for the entire year, is for the adjusted operating profit margin to be between 22.7 percent to 23.2 percent, 40 basis points to 90 basis points lower than the 23.6 percent reported for the full year 2020.
Further, the company said its progress is tangible and on track, and it expects to hit a run rate of mid-single digits net revenue growth at the back end of 2022, and adjusted operating profit margin of mid-20s by the mid 2020s.
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