By James Sillars, business reporter
Bang! And the dirt is gone.
The company behind Durex and Nurofen has announced a big strategy shake-up that will include the sale of a portfolio of home care brands, including Cillit Bang and Calgon cleaning products.
Owner Reckitt Benckiser said it was part of a wider move to drive shareholder value that would be expected to result in some job losses.
It added that it was too early to put a figure on the numbers affected but signalled they would not be significant.
Shares rose more than 4% on the news, despite the company lowering its full-year sales growth outlook for 2024, blaming temporary supply disruptions within its nutrition business.
Among other companies reporting this morning amid a rush to clear the decks before the summer break was Aston Martin Lagonda.
The luxury carmaker’s shares were 10% higher after it said the worst of its losses were now in the rearview mirror.
Aston revealed a pre-tax loss of £216.7m for the six months to the end of June, compared with a loss of £142.2m in the same period last year.
It has been making fewer vehicles ahead of the introduction of new models, including the DB12, which are expected to help turn its financial fortunes around.
Let’s look at easyJet too.
The no-frills carrier saw its stock soar by 8% after it reported a 16% lift in profits during the third quarter of its financial year.
The company raised the annual forecast for its holidays division ahead of the summer rush.
The chief executive said, unlike his Ryanair counterpart on Monday, that fares were stable on last year rather than falling and that demand was solid.
The FTSE 100 opened 0.4% lower at 8,145 led by financial and technology stocks.
Source: Money blog: Fans fume at ‘disgusting’ prices to see star of the moment: ‘Even worse than
