Reckitt Benckiser reported a better than expected 20 percent rise in first-quarter profits on Tuesday, but shares in the world's biggest household goods maker slipped on worries over profit margins and a sales slowdown in North America. The maker of Finish and Calgonit dishwasher products, Mr Sheen polish and Lysol disinfectant, said that it was still on track to hit its sales and profit targets for 2005.
But operating margins in Europe and North America - regions which account for over 80 percent of group sales - declined in the first three months of 2005, while North American sales growth slowed to just 1 percent.
Group net profits rose to 124 million pounds ($237 million) in the first quarter, beating analysts forecasts of 114 million to 121 million pounds, with overall sales up 7 percent at 986 million pounds.
The UK-based maker of Dettol antiseptic, flu treatment Lemsip and grime cleaner Cillit Bang reported that first-quarter net revenues rose 7 percent at constant currencies, while net profit increased 18 percent on the same basis.
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