By Michael Susin 

Reckitt Benckiser Group PLC on Thursday reported a swing to pretax loss for 2021 due to higher operating loss, despite revenue on a like-for-like basis being ahead of expectations.

The consumer-goods company--which houses Dettol, Harpic and Durex among its brands--posted a pretax loss of 260 million pounds ($353.2 million) for the year ended Dec. 31, compared with a profit of GBP1.87 billion in the year-earlier period.

Adjusted operating profit--one of the company's preferred metrics which strips out exceptional and other one-off items--fell to GBP2.88 billion compared with GBP3.30 billion in 2021.

Excluding the infant formula and child nutrition business in China--which the company agreed to sell to Primavera Capital in June for $2.2 billion and completed on Sept. 9--adjusted operating profit was GBP2.94 billion compared with a consensus of GBP2.94 billion taken from the company's website.

Revenue came in at GBP13.23 billion, down from GBP13.99 billion the prior year, led by hygiene and a recovery in Health. A consensus estimate taken from the company's website had forecast Reckitt's revenue at GBP13.18 billion, including IFCN China.

The company's net revenue on a like-for-like basis rose 3.5%, above the company's guidance of between 1% and 3%.

Excluding IFCN China, revenue was GBP12.85 billion compared with a forecast of GBP12.80 billion.

For the year ahead the company has targeted like-for-like net revenue growth of between 1% to 4%.

"We are therefore targeting both growth in like-for-like net revenue and an increase in adjusted operating margin in 2022, despite an unprecedented inflationary environment and ongoing uncertainties created by Covid-19", Chief Executive Officer Laxman Narasimhan said.

The board declared an interim dividend of 174.6 pence, the same amount as the previous year.


Write to Michael Susin at


(END) Dow Jones Newswires

February 17, 2022 02:48 ET (07:48 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Reckitt Benckiser (LSE:RKT)
Gráfico Histórico do Ativo
De Ago 2022 até Set 2022 Click aqui para mais gráficos Reckitt Benckiser.
Reckitt Benckiser (LSE:RKT)
Gráfico Histórico do Ativo
De Set 2021 até Set 2022 Click aqui para mais gráficos Reckitt Benckiser.