Reckitt to sell Air Wick as shares fall
Shares in Reckitt, the FTSE 100 consumer goods group, have fallen 25% over the past year.
Interim results revealed that operating profit dropped by 4.9% in the first half of the year.
The firm said it plans to sell its portfolio of home care brands that are “no longer core” to the business, including Air Wick and Cillit.
The restructuring will enable a “simpler, more effective organisation to maximise long-term value for shareholders”.
Kris Licht, chief executive of Reckitt Benckiser, said: “Today I am pleased to announce a set of actions to significantly sharpen our portfolio and simplify our organisation for accelerated growth and value creation.”
Interim results revealed that operating profit dropped by 4.9% in the first half of the year.
The firm said it plans to sell its portfolio of home care brands that are “no longer core” to the business, including Air Wick and Cillit.
The restructuring will enable a “simpler, more effective organisation to maximise long-term value for shareholders”.
Kris Licht, chief executive of Reckitt Benckiser, said: “Today I am pleased to announce a set of actions to significantly sharpen our portfolio and simplify our organisation for accelerated growth and value creation.”
