Reckitt fourth-quarter meets forecasts

LONDON (Reuters) - Consumer goods group Reckitt Benckiser Plc met forecasts with a 14 percent rise in fourth-quarter net profits and set modest targets for 2010 as it prepares for competition to its high-growth Suboxone drug.

The group set new sales and profit forecasts stripping out its Suboxone-led pharmaceuticals unit, but Chief Executive Bart Becht was still upbeat on Wednesday saying he expected continued good growth in 2010.

Reckitt lost its exclusive licence in early October for its Suboxone heroin substitute drug, and it expects generic rivals will emerge to dilute its growth. It has warned 80 percent of Suboxone's U.S. profits -- which make up 16 percent of group profits -- will be lost following the launch of competition.

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The group which makes Finish dishwash products, Cillit Bang cleaners and Nurofen painkillers reported fourth-quarter net profit of 448 million pounds compared with a consensus forecast of 447 million pounds.

It reported fourth-quarter underlying sales up 10 percent at constant currency compared to a consensus rise of 6.3 percent.

Reckitt set an underlying sales growth target for 2010 at 5 percent and operating profit growth of 10 percent when stripping out its pharmaceuticals unit and taken at constant currency.

(Reporting by David Jones)

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