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BUZZ-Reckitt: solid results push stock closer to record high

Reuters - UK Focus

** Consumer goods giant Reckitt Benckiser (Xetra: A0M1W6 - news) eyeing a record high after Q2 results beat

** Q2 organic sales +5% (vs +4.3% consensus flagged by brokers)

** H1 adjusted operating margin up 160bps to 21.9%

** Improvement broad-based by geography, consumer health & hygiene led, & aided by a favourable flu season

** Stock, up 2.4%, second-top FTSE 100 riser, just 1.4% shy of its all-time high, reached late April

** Stock trading on 25x next year's earnings -- fellow consumer stocks Diageo (LSE: DGE.L - news) , Unilever & AB Foods on 21x-32x; rich valuations explained by yield-starved investors chasing reliable dividend payers (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)