Harpic-to-Haze group Reckitt Benckiser is toasting the success of a stream of new products by posting a 17 per cent jump in quarterly profits.
Net income for the group as a whole rose 30 per cent to £70 million with gross margins improving by 1.6 per cent and debt falling by 18 per cent to £385 million.
Chief executive Bart Becht said sales of Finish 3-in-1 dishwasher tablets and Air Care air fresheners had contributed to a strong start to the year.
The Slough-based firm, which employs about 80 people at its major distribution centre on the Groundwell Trading Estate, is confident of hitting the top end of its net income forecasts for the full-year as a whole.
Mr Becht, who has set a goal of lifting net income by between 12 per cent and 15 per cent this year, said: "We are now looking towards the top end of this range."
The company reported a revenue rise of five per cent to £855 million in the three months to March 31 as growth in Western Europe and North America offset flat sales in emerging markets.
Recent initiatives such as Finish and Calgonit 3-in-1 dishwasher tablets saw sales in Western Europe climb six per cent to £361 million.
Sales in North America rose by 11 per cent to £268 million with Crystal Air fresheners and Lysol Disinfect-ing Spray proving a hit.
The growth helped Reckitt absorb a fall in sales in Latin America and pushed pre-tax profits up to £92 million, compared with £86 million a year ago.
Mr Becht said: "Reckitt Benckiser made a strong start to 2002.
"While emerging markets continued to show little or no momentum, this was more than offset by very good growth in Western Europe and North America due to our focus on new product initiatives for these markets." He added: "This has been leveraged into faster profit and cash flow growth through the success of our programme for cost optimisation ."
A smaller number of new products are planned for this year than last including Calgonit Protector, a dishwater additive to protect glasses from corrosion.
Reckitt Benckiser also owns detergent Harpic, polish Brasso, cold and flu treatment Lemsip and French's mustard.
Strong growth of the French's mustard brand helped net revenues in the food division climb three per cent to £38 million in the first quarter.
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