Household goods maker Reckitt Benckiser has reported a 29 per cent rise in third-quarter net profits today and raised its targets for sales and profits growth for 2003.
The British maker of Air Wick air fresheners and Lysol disinfectant reported third-quarter net profits of £123 million ($205.5 million), above analysts' forecasts of around £114 million.
The group said it was looking for full-year net revenue growth of over 7 per cent, up from 6 per cent previously, at constant and actual exchange rates, and for net profits growth of over 18 per cent at actual exchange rates, up for around 14 per cent previously.
Chief executive Mr Bart Becht said trading in the third quarter was strong. Western Europe continued its previous strong performance, a recovery was seen in growth in North America and there was good momentum in developing markets.
Back in August, the group raised its 2003 sales growth target to the top end of its previous 4 to 6 per cent goal at constant currencies, and raised its target for net profit growth to 14 per cent at actual exchange rates.