1048 GMT - Reckitt Benckiser's 2024 performance was in line with expectations and the company is delivering cost savings ahead of schedule, Barclays analysts say in a note. The consumer-goods company targets 300 basis points of fixed cost by the end of 2027. It made a positive start in 2024 with a 90 bp reduction to 20.9% of net revenue, they say. This implies that cost savings are coming through faster then Barclays's forecast, they add. The improved cost savings resulted in a surprising profit margin improvement of 24.5%. The improvement came despite a weak sales performance from its health segment's over-the-counter brands, which have high margins, the analysts say. Shares are up 1.7% and almost 10% since the start of 2025. (michael.susin@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 05:48 ET (10:48 GMT)
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