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| Reckitt Benckiser reports 13% rise in 2010 profits | Reckitt Benckiser reports 13% rise in 2010 profits |
| (about 7 hours later) | |
| Reckitt Benckiser, the firm that makes Cillit Bang and Gaviscon, saw a 13% rise in pre-tax profits in 2010, despite lower European sales. | Reckitt Benckiser, the firm that makes Cillit Bang and Gaviscon, saw a 13% rise in pre-tax profits in 2010, despite lower European sales. |
| Strong growth in developing markets helped the household goods giant make profits of £2.1bn ($3.4bn), with sales up 9% to £8.5bn. | Strong growth in developing markets helped the household goods giant make profits of £2.1bn ($3.4bn), with sales up 9% to £8.5bn. |
| It said it was expecting further growth this year, but at a slower pace because of the global economic backdrop. | It said it was expecting further growth this year, but at a slower pace because of the global economic backdrop. |
| Last year it bought SSL International, the maker of Durex condoms, for £2.5bn. | Last year it bought SSL International, the maker of Durex condoms, for £2.5bn. |
| It also acquired Indian healthcare firm Paras Pharmaceuticals as it looked to get a greater foothold in that developing market. | It also acquired Indian healthcare firm Paras Pharmaceuticals as it looked to get a greater foothold in that developing market. |
| Reckitt, which also produces Dettol and Finish dishwasher tablets, said sales in Europe, its biggest market, had slipped by 1% across the year. | Reckitt, which also produces Dettol and Finish dishwasher tablets, said sales in Europe, its biggest market, had slipped by 1% across the year. |
| Shares in the firm fell sharply in Wednesday trading which reflected "increased uncertainties" said Keith Bowman, equity analyst at Hargreaves Lansdown stockbrokers. | |
| "A relentless focus on cost removal continues, with acquisitions adding to opportunities, whilst a trusted formula of product innovation and heavy advertising remain central to the group's business model," he added. | "A relentless focus on cost removal continues, with acquisitions adding to opportunities, whilst a trusted formula of product innovation and heavy advertising remain central to the group's business model," he added. |
| "Nonetheless, rivals such as Unilever continue to up their game, whilst giants such as Procter & Gamble are now taking aim at Europe and the emerging markets. | "Nonetheless, rivals such as Unilever continue to up their game, whilst giants such as Procter & Gamble are now taking aim at Europe and the emerging markets. |
| "The loss of a key drug patent and expected generic competition continue to overhang, whilst costs from rising commodity and raw material prices are set to increase." | "The loss of a key drug patent and expected generic competition continue to overhang, whilst costs from rising commodity and raw material prices are set to increase." |