Reckitt Benckiser has reported half yearly profits and sales in line with expectations.
The maker of Cillit Bang and Nurofen said like-for-like sales were up 4% to £2.3bn despite a drop in revenues in Europe and North America.
Operating profits were also up 4% helped by cost saving programmes.
“While the consumer and competitive environment in Europe and North America remains challenging, we are doing the right things for the long term by increasing our brand equity investment,” said Reckitt CEO Rakesh Kapoor.
The results were greeted with muted approval from analysts. “Overall, we consider that this quarter was another step towards sustained recovery in top-line performance,” said Bernstein analyst Andrew Wood.