Core and Group Revenue Growth
Core Reckitt like-for-like net revenue grew 5.2% in 2025 (volume +1.5%, price/mix +3.7%); group net revenue increased 5.0%. Excluding seasonal OTC, Core Reckitt grew 7.0% year-on-year.
Emerging Markets Outperformance
Emerging Markets led growth with Core Reckitt EM growth of 14.6% and volumes up 6.7%, driven by strong performance in China (10th sequential quarter of double-digit growth) and high-single-digit growth in India; several smaller markets delivered double-digit growth.
Margin Expansion and Profitability
Core Reckitt adjusted operating profit margins expanded 90 basis points year-on-year; group adjusted operating profit margin up 40 basis points to 24.9%. Emerging Markets adjusted operating profit margin improved 210 basis points to 20.9%. Group adjusted operating profit grew ~5.3% at constant currency.
Strong Innovation and Product Wins
Multiple product launches and extensions across categories (Durex Intensity rolled out to 18 countries, Lysol and Dettol innovations, Nurofen mini liquid caps, Strepsils dual-action). Mucinex 12-hour Cold & Fever highlighted as a breakthrough (first FDA-approved NDA in upper respiratory category in >15 years).
Fuel for Growth Program Delivering
Fuel for Growth drove 150 basis points of fixed-cost savings in 2025 and enabled a 120 basis-point step-up in brand equity investment (BEI). Group fixed costs improved by 150 basis points to 19.4% of net revenue and management expects to exit 2027 with fixed costs below 19%.
Portfolio Simplification & Asset Disposals
Divestment of Essential Home to Advent completed in December 2025; company returned proceeds to shareholders (additional GBP 1.6bn special dividend in Feb 2026) and is now focused on 11 high-growth power brands.
Shareholder Returns and Capital Allocation
Returned GBP 2.3bn to shareholders in 2025 via dividends and buybacks (including GBP 900m of share repurchases); ongoing buyback program to continue as a component of capital allocation.
Supply Chain & CapEx Investment Showing Early Results
CapEx stepped up to GBP 592m in 2025 to localize, automate and digitize supply chain; investments include new Durex lines in Taicang, Wilson (NC) factory on track, expanded Lysol and Finish capacity; service levels improved across Europe and North America.