SLOUGH (dpa-AFX) - British nutrition products maker Reckitt Benckiser (RBGPF.PK, RB.L) reported Thursday lower profit in fiscal 2024, with slight decline in revenues.
Further, the Board of Directors recommends a final 2024 dividend of 121.7 pence per share, higher than 115.9 pence per share last year. The full-year dividend increased by 5 percent to 202.1p.
The dividend will be paid on May 29 to shareholders on the register at the record date of April 11.
Looking ahead, for the first quarter, the company expects mid-to-high single digit growth in Emerging Markets, with Europe flat. In North America, the company projects low-single digit growth.
For fiscal 2025, Reckitt Benckiser expects to deliver another year of adjusted earnings per share growth, with Group LFL net revenue growth of 2 percent to 4 percent.
The company targets 3 percent to 4 percent LFL net revenue growth in Core Reckitt, and low-single digit LFL net revenue growth in Essential Home and Mead Johnson Nutrition in 2025.
Regarding the medium-term guidance, from 2026, Core Reckitt is projected to consistently deliver 4 percent to 5 percent LFL net revenue growth, and to consistently deliver annual earnings per share growth.
In fiscal 2024, Reckitt Benckiser's profit before income tax fell to 2.10 billion pounds from last year's 2.40 billion pounds. Earnings per share were 203.2 pence, down 11.1 percent from 228.7 pence a year ago.
On a continuing operations basis, earnings per share were 203.8 pence, compared to 227.4 pence last year.
Adjusted earnings per share were 349.0 pence, compared to prior year's 323.4 pence.
Net revenue for the year dropped 3 percent to 14.17 billion pounds from prior year's 14.61 billion pounds. Net revenue grew 1.4 percent on a like-for-like basis.
In the fourth quarter, net revenue was 3.55 billion pounds, down 0.4 percent from last year on a reported basis, but up 4.6 percent on LFL basis with price improvement of 2.8 percent and volume growth of 1.8 percent.
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