Reckitt Benckiser Group Plc recommends an interim 2022 dividend of 73.0 pence, consistent with its policy and guidance from February 2020. The ex-dividend date will be 4 August 2022 and the dividend will be paid on 14 September 2022 to shareholders on the register at the record date of 5 August 2022. The last date for election for the share alternative to the dividend is 23 August 2022.
Other Financial Highlights:
Group like-for-like (LFL) revenue growth of 8.6%. Price/mix was 7.4% and volume 1.2%. Continued broad-based growth and momentum across all Business Units and geographies. Growth includes an estimated 2.4% benefit from US Nutrition temporary competitor supply issues.
Q2 Group LFL growth of 11.9%. Price/mix was 9.7% and volume 2.2%. Strong growth across Health (+24.2%), Nutrition (+26.8%) and Hygiene (-2.5%, +8.9% excluding Lysol) portfolios, with Lysol in line with expectations. Growth includes an estimated 3.3% benefit from US Nutrition temporary competitor supply issues.
70% of the portfolio less sensitive to Covid dynamics grew low double digits (Q2: mid-teens). Excluding the positive impact from US IFCN, growth was high-single digits (Q2: low-double digits), driven by continued innovation and in-market execution across the portfolio.
Health GBU delivered 22.4% LFL growth driven by a combination of strong demand and share gains in the OTC portfolio, and continued momentum in Intimate Wellness, VMS and germ protection brands.
Disinfection performance fully in line with expectations. Dettol in growth for Q2 with stable revenue trends at c.40% above pre-pandemic levels. Lysol was down by around 30% from Covid peaks in H1 2021 plus some retailer de-stocking in H1. Lysol consumption trends were strong at 50-65% above pre-pandemic levels.
Nutrition growth in Q2 of 26.8% driven by low-teens growth in Latin America / ASEAN and around 40% growth in the US with strong execution amidst temporary competitor supply issues.
H1 adjusted operating margin of 25.6%: Growth of +290bps was driven by the combination of favourable product mix, productivity initiatives, pricing and phasing of investments, aided by leverage benefits in US Nutrition and the gain on sale of surplus land in Asia (+85bps).
H1 adjusted EPS (diluted) of 178.6p (+25.2%). Strong growth driven by a combination of revenue growth, margin expansion, and foreign exchange benefits.
