Reckitt posts robust Q2 performance, maintains FY targets
By Iain Gilbert
Date: Wednesday 29 Jul 2026
(Sharecast News) - Consumer goods giant Reckitt delivered a "strong" second quarter with broad‑based acceleration, prompting the group to reiterate its full‑year outlook as momentum improved across regions, categories and its Mead Johnson Nutrition arm.
Reckitt's core like‑for‑like net revenue growth picked up to 4.2% in Q2, taking first‑half growth to 2.7%, with volumes improving and price/mix remaining supportive.
All three geographic areas strengthened in the quarter, with emerging markets rising 9.4%, Europe narrowing its decline to ‑1.5%, and North America returned to growth at 2.8%.
Categories also saw better trends, led by Germ Protection, while China delivered a twelfth straight quarter of double‑digit gains. Innovation continued to underpin performance, with Dettol Activ Botany, Mucinex 12HR Cold & Fever and Durex Intensity all progressing well. Mead Johnson Nutrition returned to growth, with H1 LFL revenue up 2.0% and Q2 accelerating to 7.2% as trading conditions stabilised.
For the six months ended 30 June, adjusted operating margins for core Reckitt and MJN came in at 23.6%, ahead of expectations, supported by the firm's Fuel for Growth programme, which mitigated stranded costs following its Essential Home divestment. First-half adjusted operating profits were down 15% year-on-year to £1.45bn, even as LFL net revenues were up 2.6%.
Reckitt declared an interim dividend of 88.6p, up 5% year-on-year and in line with its aim to deliver sustainable dividend growth, and also announced a new share buyback programme would commence imminently, with up to £500m of shares to be repurchased over the next twelve months.
Reckitt said it remains on track for full-year like-for-like net revenue growth of 4% to 5% for core Reckitt, with emerging markets expected to maintain broad‑based strength, Europe returning to growth in H2, and North America driven by Mucinex and Lysol.
The FTSE 100-listed group continues to expect a 24.9% to 25.6% adjusted operating margin for core Reckitt and MJN, with H2 set to be materially stronger. Reckitt also reaffirmed its ambition for long‑term sustainable earnings per share growth.
As of 0810 BST, Reckitt shares were up 6.72% at 5,524p.
Reporting by Iain Gilbert at Sharecast.com
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