Reckitt Benckiser, the largest manufacturer of household cleaning products in the world, announced record results for 2002. Fourth quarter net revenues were flat (up 6% at constant exchange) at $1.4 billion as a much weaker U.S. dollar countered the underlying business growth. For the full year, net revenues grew 3% (7% constant) to $5.6 billion.
“Reckitt Benckiser had another good year in 2002,” noted Bart Becht, chief executive officer. “Net revenues and profits grew to new record levels. Growth was particularly strong on our core 15 power brands behind the success of our new products and increased investment.
“Our targets for 2003 are for net revenue growth of 4% to 6% and for net income growth in the low double digits, both at constant exchange.”
By category, fabric care revenues rose 5% at constant exchange rates, surface care net revenues grew 4%, dishwashing net revenues grew 11%, home care net revenues grew 14% and
health and personal care net revenues grew 13%.