Image source: Shutterstock

Highlights

  • FY24 net revenue for Reckitt declined by 3.0% YoY to GBP 14,169 million, mainly due to FX headwinds
  • Market share increased in 55% of top CMUs and 48% across the group in FY24
  • Developing markets saw a 5.5% YoY increase, while Europe/ANZ grew by 3.9% YoY in FY24
  • For 2025, Reckitt forecasts Group LFL net revenue growth of 2%–4%, with adjusted operating profit growth outpacing revenue

Reckitt Benckiser Group PLC (LSE:RKT) is focused on the development and acquisition of products in the health, hygiene, wellness, and nutrition sectors. The company is listed on the FTSE 100 Index.

Reckitt’s net revenue for the financial year 2024 (FY24) was GBP 14,169 million, reflecting a 3.0% decline from FY23, mainly driven by FX headwinds. Despite this, the Hygiene and Health segment grew by 3.1%, or 4.6% when excluding seasonal OTC brands. Market share gains were seen in 55% of top CMUs, with 48% across the group. Developing markets saw a 5.5% rise, and Europe/ANZ grew by 3.9%. However, North America declined by 5.0%, impacted by weak seasonal OTC and the Nutrition rebasing.

Adjusted operating profit reached GBP 3,475 million, a 3.0% increase compared to FY23, supported by pricing, productivity, and cost efficiencies. Adjusted EPS rose by 7.9%, benefiting from share buybacks and a lower tax rate. However, IFRS operating profit declined by 4.2%, mainly due to impairment charges and restructuring costs, including write-downs in the IFCN and Biofreeze segments.

Company Outlook

For 2025, Reckitt has provided positive guidance, projecting Group LFL net revenue growth of 2%–4%, with Core Reckitt targeting a growth range of 3%–4%. However, H1 performance is expected to be affected by declines in Essential Home and Mead Johnson Nutrition. Adjusted operating profit is anticipated to outpace revenue growth, with earnings per share (EPS) expected to rise. Looking further ahead, from 2026 onwards, Core Reckitt aims to consistently achieve LFL growth of 4%–5% and continue expanding EPS.

Top 10 Shareholders

The top 10 shareholders of RKT together account for approximately 27.80% of the total shares. Morgan Stanley Investment Management Ltd. (UK) holds the largest stake, with around 5.24%, followed closely by MFS Investment Management at about 5.19%, as shown in the chart below:

Stock Information

Over the past month, the stock declined by approximately 9.71%, though it has gained around 1.79% over the last six months. It has a 52-week range between GBX 4,034.00 and GBX 5,418.00, with the current price of GBX 4,760 (as of 10 April 2025) trading above the average of this range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 10 April 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.