Condoms buy helps Reckitt Benckiser to £552 million - Business - Evening Standard
       

Condoms buy helps Reckitt Benckiser to £552 million

A new treatment for heroin addicts and the acquisition of condom-maker SSL sent second-quarter profits surging at consumer goods giant Reckitt Benckiser.

Suboxone, Reckitt's heroin substitute, has not had patent protection in the United States since 2009 but the group hopes a new unique "film" version will extend the life of the product.

The film version dissolves on the tongue and is easier for recovering heroin addicts to take than traditional tablets.

Reckitt, whose chief executive Bart Becht steps down later this year, said Suboxone tablets now represent less than 50% of its healthcare division RBP's revenues. There has been speculation that Reckitt may want to sell RBP, which generates a fifth of group profits.

The consumer goods firm, which also makes cleaning product Cillit Bang and Nurofen painkillers, saw pre-tax profits rise 9% to £552 million in the quarter.

Revenues jumped 16% to £2.34 billion. Taking out the impact of acquisitions, like-for-like sales were up 5%.

Reckitt continues to look to emerging markets for growth.

"We have seen in Europe a challenging market environment for pretty much a year with market growth rates relatively anaemic and continued heavy competition," said Becht.

The shares slipped 28p to 3450p.

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity