Greetings and welcome. I hope you and your families are safe and well in this very difficult time. Greetings and welcome. I hope you and your families safe and well in this very difficult time. Our hearts go out to the many communities around the world.
Who are facing the challenges of COVID 19. As a company, we are trying our best to play a small part in helping these communities. Clearly, what we do as a company is much smaller than what is happening outside. I'm incredibly grateful to all RB associates customers, partners and suppliers who have gone beyond the ordinary to help us navigate an exceptionally difficult time. There's 4 key messages I would like you to take away from today's presentation.
First, consisting with our messaging on our Q1 trading update, RB is off to a stronger than expected start for 2020. Importantly, in addition to the demand tailwinds for COVID 19 on several key brands, We are pleased that our underlying sales trends are also performing above our plan. 2nd, RB is making good progress regarding the strategy outlined in February designed to rejuvenate sustainable growth. I believe we have made significant strides in improving our execution. We're also making good progress building an organization with the right capabilities and culture to realize the long term opportunities for the company.
3rd, COVID 19 is having a profound impact on consumer behavior. Not just for a is likely to be sustained over time, albeit at more moderated levels. And our portfolio is well positioned to benefit and navigate There's no question that our purpose and the site, which we announced at the end of February, 2020, are even more relevant in these times. 4th, we plan to leverage expanding the scope of our investment spending. Also, before moving on, let me address upfront What I suspect is top of mind today for the analyst community and for our investors.
Since February, when we laid out our long term financial algorithm, we are reporting better than expected performance of our underlying business, We see structural shifts in consumer engagement in hygiene and health that favors several of our categories, And we are announcing an increased level and expanded scope of our investment spending designed to further accelerate growth. The obvious question then becomes, why aren't we increasing our long term EPS growth expectations above the 7% to 9% level we committed to over the medium term or moving forward, the timing of performing against on mid single digit revenue growth target. The answer to this question has 3 parts. First, we unquestionably have greater confidence in achieving our medium term growth and margin goals. 2nd, While we feel more confident and perhaps even lean towards being more bullish, we recognize and we are operating in highly uncertain times, which very well could lead to significant public health and economic dislocations.
3rd, we are 6 months into the implementation of our strategic plan and transformation. Are pleased with the early progress, but we do not want to get ahead of ourselves and we'll update you next February on our journey. Over the course of this presentation, I'll provide an overview of the first half with some reflections on what has changed as a result of COVID-nineteen. Jeff will then take you for the first half results in more detail. Then we'll together provide a detailed strategic update, including our expanded plan and an outlook for Before highlighting our first half results, let me spend a minute to remind you of the plans and long term objectives that we set out in February.
Our plan to rejuvenate sustainable growth at RB is based on investing in the business to create a platform that is capable of sustainably delivering mid single digit growth, mid-twenty's margins, and therefore, 79% earnings growth in the medium term. Our plan called for investing 1,000,000,000 over 3 years in a series of investments in commercial muscle innovation and consumer value, coupled with a higher level of capital spending to support the anticipated growth acceleration. We expected a reset of margins in 2020, declining by 350 basis points from the 2019 levels. Before returning to the mid-20s by 2025. Our expanded productivity program is expected to create savings to invest in capabilities and address any shortfalls along the way.
As you hear, we made a good start in many respects despite the operational headwinds caused by COVID 19, with strong executional proof points. We still have a lot more to do. And we have new opportunities as well. As I mentioned earlier, are these H1 top and bottom line results were stronger than expected. In addition to the demand tailwinds for COVID 19 on several key brands, I am very pleased to report that our underlying sales trends are also performing above our plan.
We delivered 11.9% like for like growth, reflecting 3% to 4% estimated underlying growth and a significant COVID tailwind. Our growth has been broad based. We delivered double digit growth in China, the UK, Germany, Mexico and Australia. North America was up over 25%. India was also up high single digits on a like for like basis, despite the severity of the early lockdown, and Brazil was up mid single digits.
Just under 1,700,000,000 of adjusted operating profit, up 15% on the prior year. Our margin was 24.5 percent, up ninety basis points As a result, we delivered earnings per share which was 14 point and 1,000,000,000 was exceptionally strong. Finally, we're announcing an interim dividend of 73p per share, unchanged year on year, as we said in February. On to the underlying business, I'm incredibly proud of what our teams around the
world have achieved
in an extraordinarily challenging environment. We have worked tirelessly to keep our people safe, meet the needs of our consumers and customers, nonetheless actively playing a positive role in the communities in which we live and in which we work. We have invested to strengthen our supply chain performance, both before and during the COVID-nineteen crisis. This is perhaps best illustrated I have the team responded to the exceptional growth in demand for Lysol's market leading disinfectant spray. This is our biggest selling SKU in the Lysol power brand family.
Demand has exploded in the U. S. And we have worked across the supply chain and with partners to increase capacity by 150% in the 1st 6 months to meet demand. As a result, in the first half of this year, we sold 2.5 times as much as we did last year. As a result, with Lysol growing over 70% as a whole.
The spray now represents 30% of the Lysol family. This rate of growth has been seen across the Dettol and Lysol families, making RB the undoubted leader in disinfecting products worldwide. In addition, the sudden spike in consumer demand for key products by Bethel, Lysol, Finish and Airborne cost customers to significantly increase order sizes, which in turn resulted in delivery performance tailing off post March. The progress we have made for COVID 19 had already had a material positive impact on our customer relationships, particularly after a difficult Q3 in the U. S and provided a goodwill necessary to help us work in partnership through these difficult and subsequent challenges.
Without the work, we commenced in September to enhance customer relationships and service. We would be in a very different place. At the same time, we've made a good start to our enhanced productivity program We set a 2020 target of 1,000,000, over 1,000,000 higher than our traditional run rate. In the 1st 6 months, we are ahead of plan, a testament to the focus that can do attitude of our people and the execution with the agility of our team. In many cases, they delivered different projects from their living room tables, from their bedrooms, or from their home offices, as well as from the floors of our factories and distribution centers, all while introduced while ensuring safety.
Let me now address a question that many of you are asking What changes are we seeing in consumer behavior? We see 5 significant changes. 1st, Our research suggests that COVID-nineteen is driving a meaningfully increased interest in hygiene and health, behavior that is likely to be sustained over time. Experienced tells us that a change in behavior for over 60 days causes consumers to permanently change what they do over time. Today, over 85% of people have already improved their hygiene habits as a result of COVID 19, leading to a large increase in household penetration and frequency of product use.
Importantly, as we have discussed in the past, this is an underlying trend that anchors RB's strategic direction and the COVID-nineteen pandemic has both brought it to the forefront and accelerated the adoption curve for many people. We do have headwinds in a few brands, but we expect these will moderate or even reverse over time. 2nd, The pandemic led to pantry loading, particularly for many of our OTC and nutrition products. As we pointed out in April, we expected much of that would unwind either quickly or as we've seen with interformula, or more slowly as we are seeing with OTC. Drawing out the unloading over the 2nd, 3rd and possibly 4th quarter, 3rd, the partial of full lockdowns or stay at home guidance, evidenced over 100 countries at various times, have also led to large populations of people nesting at home and engaging in less social interaction.
Such consumers are cooking more and are looking for ways to make their homes cleaner and better. 4th, we've seen massive shifts across the world in online spending. Over 77% increase in spending year over year in May. Finally, we continue to see challenges on the horizon on the economy. With over 51% of American consumers worried that their financials will be impacted by COVID-nineteen, a trend we need to be sensitive to as we plan for the future.
Our portfolio is very well positioned against the changes we are seeing in consumer behavior. Greater awareness of hygiene and health will increase consumption for key brands like Detle, Lysol, Sagatan, NAPisan, and Airborne, which in 2019, represented around 20% of our portfolio and are national beneficiaries. We expect to see sustained uplift from consumers in store and effectiveness assurance to their customers, whether or accommodation, travel or other service industries. Country loading and unloading has had a marked effect on our OTC and nutrition business, where we expect the initial lift from panic buying that balanced out over the course of the year. Additionally, sustaining hygiene and physical distancing protocols and negatively impact the flu season.
Nesting at home has definitely had a positive effect on brands like Finish in particular. This has more than offset the lower demand for direct, vanish and show today. We expect these businesses to improve as more social interactions happen. Of note, our business in China provides some early indications. As China came out of the severe stages of lockdown.
Demand for sexual well-being products are rebounding quickly. 1 of the most pronounced changes over the last 5 months been an acceleration of growth in e Commerce. We've been advantaged in this space as a result of the investments We've progressively made in recent years and accelerated since January. As a result, growth has been very strong. Our 2nd quarter e commerce growth across the whole business was over 70% and our first half bill was over 60% and now represents around 12% of our group sales in the half.
Our growth has been strong across all forms of e Commerce, including pure plays, marketplaces, bricks and clicks as well as direct to consumer. We saw a near doubling of the business in the first half of the year. Looking forward, we expect there'll be some turbulent times in different markets as we all come to terms with the economic and social costs of this pandemic As a result, we fully expect spending power will be impacted, much as we saw a decade ago. Our portfolio is well positioned to navigate the additional macroeconomic challenges we expect, which will have an impact on consumer spending We're taking steps to anticipate this learning from our past and are building on the actions we talked about in February to ensure Our products are well positioned with different consumer value propositions across our ranges. The remaining relevant for all shoppers is key to access and they're investing as planned in doing just that.
Overall, we feel our portfolio is well positioned to endure in a potential economic recession where our purpose and 5 could not be more relevant. In light of the better than expected start of the year, we have decided to step up our investment spending plans as we see opportunities to capture additional growth. Our current plans expand on the plans we announced in February to invest in price competitiveness where appropriate. Build our commercial muscle, invest in research, development and quality as well as invest in further strengthening supply. We see 3 additional areas where we plan to invest further.
1st, we are going to reinvest incremental upside delivered to date to grow our leading position in disinfectants with brands like Dethol, Lifestyle, and Cybo Tom. Getall and Lysol together are powerful brands with retail sales over 1,000,000,000 and strong consumer preference. Our additional investments focus on expanding and investing in these brands behind growth opportunities in an expanded number of category market units or CMUs. For instance, we launched Lysol in Brazil in April this year, several months ahead of plan, including with local manufacturing, we are seeing strong initial interest. 2nd, we will further accelerate our digital and e commerce investments to ensure where the forefront of market developments, capturing growth in this fast changing business across all channels and categories.
We are moving with speed to build on our momentum and further strengthen the business. For instance, we're investing in further supply capabilities and hiring a significant amount of talent in this environment through targeted recruiting and moving some of our best people internally into functions supporting this growth. 3rd, we are capitalizing on our brand strength by moving you to the professional category, white space, for the benefit of a wider consumer audience. The agreements of companies like Hilton, Avis Budget Group, JLL and Delta are great examples of a larger set of opportunities. Additionally, in the near term, We will also increase the capital expenditure to address the increased demand for disinfectants.
These include new lines of existing products, automation, as well as molds and co pack investments to meet the demand. Given the favorable shifts in the environment and our expanded plan, we have greater confidence in achieving our medium term goals that we set out earlier this year. I will talk about this more after Jeff has given you a review of the first half financials. Let me hand over to Geoff.
Thank you, Lexman. COVID-nineteen started impacting our business as early as January this year. And we have monitored not just the COVID impact on our business, but also our underlying performance. And we estimate the underlying performance during Q1 and Q2, as lastly mentioned, and 3% to 4% growth, significantly improved compared to 2019. Our half year and Q2 growth has also been impacted by our decision to adjust Our revenue recognition in line with IFRS best practice and recognized revenue when received by customers are not at the point of dispatch.
Our previous treatment has not impacted period on period growth rates, but has a negative one time impact on Q2 of 2.9% and 1.4% for the full half. Our hygiene and health business units performed exceptionally well in this half, with sales growth of 16.1% and 18.6%, respectively, we'll go into more detail later, but Maison Detold serve a call out with growth around 70% or 60% respectively as consumers look for trusted disinfecting solutions in this difficult period. It's also worth mentioning at this point our exceptional e commerce performance. The benefits Our investments in this area have resulted in growth of over 60% and e commerce now represents 12% of the group's net revenue. IFCN was down 4.8% in the period, but this had a tough lap in mainland China, headwinds in Hong Kong and a planned dryer upgrade in Latin America.
Importantly, we see positive momentum as we move into the second half of the year. Adjusted operating profit of 1,000,000,000 is ahead of expectations with a margin of 24.5 percent, 90 basis points ahead of last year. Gross margins are up 70 basis points due to a favorable mix and strong productivity benefits. BEI has been invested in absolute amounts in line with last year, but due to the strong top line growth and favorable rate BEI was 160 basis points favorable compared to last year. Of course, we have adjusted our spend as necessary during this unprecedented period, and I'd expect an increase in BII as we move into the second half of the year.
SG and A costs were up 140 basis points versus last year, reflecting variable pay headwinds as we flagged in February, some one time charges and capability investments in areas such as R&D, which will enable and accelerate our growth program in line with our rejuvenation plan set out in February. Now looking at the margin development through a slightly different lens, the big picture is that our productivity program is delivering in line with expectations While our investments will now be more weighted into the second half of the year, and as we'll talk about later in our outlook statement, some investments will now be phased into 2021. The rephrasing of investments into the second half of the year is largely a consequence of COVID. Through March, April, May, our team's key focus was serving our customers, protecting our people, and establishing new ways of working. Consequently, some programs have been updated and re phased, but we're getting used to this new norm.
Our people have adapted with agility and pace, and we have good visibility of the second half investment programs. In addition to the reinvestment of 190 basis points, let me now break down the 310 basis points of COVID related cost and other headwinds. This includes the operating margin headwinds, largely variable pay, which we flagged in February, Additionally, we've incurred around 100 basis points of impact from COVID related costs in this half. And we do expect these to continue in the balance of the year. Lastly, we've also incurred around 100 basis points in one off charges for certain items, including legal provisions but historic cases, which are now judged more likely to result in a negative outcome.
Now let me take a couple of moments to dive a bit deeper into our productivity program. This is due to deliver 1,300,000,000 over 3 years, providing the fuel to our growth engine. And I'm delighted to report that we have a very active and successful program for production. Importantly, while some areas are less advanced due to COVID other areas such as direct procurement, have stepped up and moreover, all in all, we have delivered $165,000,000 in the first half of the year, ahead of our initial plans. My goal of good productivity program is not made from 1 or 2 big one off items.
Rather we have thousands of individual efforts running, and have included 4 case studies of this in the appendix, which are typical of the program. RB has a strong track record in this field. But like many large organizations, we see opportunities to continue to improve efficiency. And I'm confident we can deliver and even spend on our goals as we go forward. I'm now going to look at our 2 reporting segments, starting with hygiene.
It's been an exceptional half for hygiene with net revenue of 16.1% and 19.4% in the second quarter. And due to the strong leverage, margins of 25.1 percent are 3 20 basis points ahead of last year. Volumes are up 15% and with negligible price movements, mix was favorable by 1%. North American net revenue was up 29%, largely driven by Lysol And Finish, which were up 67% and 31%, respectively, in the region. Across the total segment, other key performances include double digit growth Stuart Bang, Calgon, and Beija, and other brands, including Mortin, Harpic and Airwick, all grew while Vanish was down slightly in the half.
Now moving on to health. Total net revenue was up 9.3% and margins of 24.2% were down 50 basis points. Due to higher investments in pricing and capabilities. Volume was up 7%, and pricing was basically flat with a favorable mix in the period of 2%. Health is a more complicated picture in the period.
For example, OTC grew 10.9% in the half, with strong Mucinex sales and share gains. However, in Q2, OTC was down 12.7% reflecting country's destocking and lower sales of strepsils and neuro fat. Mucinex saw very strong sell in in quarter 1 and was still positive in quarter 2. However, sell out has slowed significantly
And with the likelihood of
a weak cold and flu season, we expect OTC will have a challenging second half of the year. Other health grew 22.7% in the half and 28.2% in the 2nd quarter. With the acceleration largely due to stronger demand from Dental, with net revenue growth of Dental at 62% in the half, accelerating to 80% in the 2nd quarter. IFCN revenues were down 8% in the 2nd quarter and 4.8% at a half. And as we've mentioned, there were 3 specific headwinds.
1st, in Greater China, we were restocking the trade in the first half of twenty nineteen, and this created an unnatural comparative numbers compared to the first quarter of this year. Next, the closure of the Hong Kong border has significantly impacted cross border sales in the first half of this year. And finally, the driver overhaul in Mexico has resulted in some sales being impacted in the first half. Adjusted for these events, IFCM performed as expected, and we are encouraged, as I mentioned earlier, by positive momentum into the second half of the year. Adjusted EPS grew by 14.5 percent to £1.66.5 in the half.
The growth largely driven by an increase in operating profit and finance expenses and adjusted tax were in line with expectations. So now moving on to cash. Free cash flow of 1,000,000,000 is unusually high. 1,000,000,000 ahead of last year due to stronger operating profit and exceptional working capital improvement. Trade receivables decreased slightly despite the strong sales growth and total payables increased by just under BRL800 1,000,000, but mainly due mainly to high levels of manufacturing activity, and volume related trade accruals.
It's important to emphasize our payable days outstanding remains in line with policies. And in line with our historic levels. Capital expenditure was lower than expected due to the challenge from COVID-nineteen. While short term capacity increases were mainly the result of increasing throughput on existing assets and new co pack facilities. In line with our strategy, we expect to significantly increase capital over the medium term as we step up our supply chain capabilities to meet consumer customer needs.
I'm very pleased to see our net debt reduced at 1,000,000,000 as a result of a strong free cash flow and despite adverse foreign exchange movements of £600,000 due to the strengthening U. S. Dollar. The bond issuance in May significantly reduced our reliance on commercial paper and increased our average maturity to 5.4 years 4.2 years at the end of 2019. Now let me wrap up But before I hand back to Maxman, let me just reiterate our disciplined approach to capital allocation, and our commitment to a single A credit rating.
Our balance sheet is strong and we have declared an interim dividend of £0.73 per share in line last year. Our capital allocation policy is built around strong free cash flow and our continued to ensure we remain focused on this while ensuring we invest in growth to deliver the full potential of RB. Thank you. And now let me hand back to Maxim.
Back in February, we set out a clear agenda for RB. We demonstrated that RB is a good house in a great neighborhood with the potential to be a great house again. We've mapped out a clear strategy to rejuvenate growth, supported by investment plans funded by productivity and a margin reset. And we set out how we would do this in a sustainable way anchored with a purpose and fight that provides a clear direction to the business. Together, These will provide the keys to lead and inspire the people of RB to succeed.
Since then, we have already seen some material changes in our markets and environment, and these will influence our strategy. Because fundamentals don't change. In fact, they are even more relevant. The megatrends we highlighted in February are very clear in many cases, having strengthened by our experience with COVID 19. Hi, Gene has never been more clearly the foundation for health.
COVID 19 is demonstrating the pressures and societies all over the world the highest standards of IG. This has already led to material opportunities for our portfolio. While COVID 19 has negatively impacted the shortened demand for sexual well-being products, long term trends are unchanged. We still have over 1,000,000 sexually transmitted infections every day, which with such infections being less taken care of in times by COVID 19. The pressures on the health care systems are making self care even more relevant, and we continue to see the demand for nutrition and immunity perhaps at a heightened level in these times.
Finally, digitalecommerce. Have materially increased since February, with step changes happening in how people access and buy our products. We also set out a clear business model that we felt could deliver strong sustainable mid single digit growth by leveraging the individual and combined strengths of the business. Our growth drivers remain unchanged. Our growth model continues to focus on product penetration and usage.
Particularly for our leading range of surface disinfectants, including Detle, Lysolinsaglertime, our drive to ensure market share gains as well as opening up new spaces and channels for us. And finally, new places and geographies where our products are available. That to reconfirm medium term strong growth expectations of 3% to 5%, consistent with being part of a mid single digit growth company. For example, in the U. S, Lysol has developed as a mega brand, adding over 600 basis points in market share in the space of 12 months.
Driven involved by COVID 19 pandemic, but also by the initiatives taken by the team to move to new adjacencies. Might be long term prices. Next thing is also have auto dishwashing as a category, growth penetration. We've also seen finishing Road's market share 600 basis points in the US. In terms of use cases, the extension of our focus or power category market units or CMUs, from 40 to 50 is putting more resources into the right growth opportunities.
Value growth across the portfolio has been strong because of COVID, but for 8 of the incremental investment areas, the transformation in 5 months has been outstanding, growing ten times the rate they did prior to our changes. The additional CMUs are an area of expanded investment. From a standing start in February, We've also been able to develop the professional channel with business opportunities arising every day. Since March, we've re announced several major new relationships, agreements with Hilton Hotels, Delta Airlines, Avis Budget Group And American Campus Communities putting Lysol at the heart of hygiene awareness for travelers and students alike. Our health business includes our debt all portfolio, our OTC business, and our sexual wellness franchise, and our execution is improving.
Our Dental franchise continues to perform strongly across the world, further reinforced by the consumer trends during COVID 19. We've seen strong market share gains in many markets. For example, debt also now has market share leadership in India the United Arab Emirates, Saudi Arabia and Malaysia. Insurance supply has meant both choices on how we respond to market on. A big emphasis has been and will continue to be on the simplification of the business, including through SKU rationalization, where we have adopted radically simpler portfolios to boost throughput.
Our sexual wellness business. Sorry. I didn't need you to do the start again. Our health business includes our dental portfolio, our OTC business and our sexual well-being franchise, and our execution is improving. Our Detle franchise continues to perform strongly across the world, further reinforced by the consumer trends during COVID 19.
We have seen strong market share gains in many markets. For example, debt also now has market share leadership in India, the United Arab Emirates, Saudi Arabia and Malaysia. Insurance supply has made bold choices on how we respond to market demand. A big emphasis has been and will continue to be on the simplification of the business, including through SKU rationalization, where we have adopted radically simpler portfolios to boost throughput. Our sexual well-being business did have headwinds through the lockdown period.
However, e commerce performance strong, reflecting the privacy and convenience needs of our consumers. Our partnership with companies such as Global has enhanced the availability of our products with short lead times in several European Metropolitan Centers. Our professional business has also developed quickly, particularly for dental. Announcing partnerships with Hilton in China, Uber in Australia, the ride sharing app grabbed across several markets as well as airlines such as Saudi. Our OTC business has performed well.
1st, with Pantry loading early in the pandemic and the subsequent destocking, which we expect to play itself out over the course of the rest of the year. Between strong performance in brands like Mucinex and Neurofem, clearly impacted by the pantylotate and steady growth in brands like Gavistcon, market share increase until the end of the day, particularly with Mucinex. We have made strong operational and commercial improvements, and continue to focus on getting ready for the next season. We are therefore making good progress towards a 46% medium term growth target. With a business that is strengthening.
Our innovation pipeline continues strongly on the debt hall, and we are sequencing our innovations and the other parts of the portfolio will maximum impact in the marketplace. Despite the headline numbers, the first half of twenty twenty or our infant formula business was reassuring as we made progress against our growth objectives and managed effectively our planned projects. For example, the drier overall in North America, which we discussed in April. The most significant unknown was always going to be the extent of unrest and COVID 19 impacts in Hong Kong. As borders were closed, and local demand fell sharply as a result.
Hong Kong remains a concern as we look forward. And while we start lapping the unrest, seeing in the back half of twenty nineteen, the situation remains uncertain. Seasonally, The underlying progress in mainland China has been good, reflecting the benefit of the recovery actions taken over the last few quarters. The recent investments in competitiveness and the new product introductions, both local and imported, add to our super premium positions. Furthermore, we are seeing stronger marketplace execution in both online and offline channels with market share increases as a result.
In some emerging markets, we know we have a lot of work to do to consistently deliver positive growth. For instance, while some of the ASEAN markets are already doing well, we continue to have turnaround opportunities in a few of our hotspot markets that are highly competitive. Looking ahead, the impact of slowing birth rate and possible weaker GDP growth in the near term. Also make it very important that we judge our investments and innovations well to maintain leadership positions. Even in the market like the U.
S, while underlying birth rates have traditionally been positive, COVID-nineteen has had and will have a negative effect. The pressure for local welfare support, particularly in communities, with a high level of unemployment will also make future quick participation higher. Notwithstanding these external challenges, The growth opportunities for the broader nutrition business unit remains strong, and execution is strengthening. We continue to see strong performance in the U. S, as our NeuroPro brand continues to grow market share.
Our e commerce performance across the board is strength particularly in ASEAN. We continue to be positive about the growth, price premiumization and market share performance of the Infinitus brand in China. In the broader nutrition space, particularly in a COVID environment where immunity is a strong need, our air borne business showing strong penetration and market share increases. In summary, we are making good progress in several of these markets, but a couple are still work in progress. Our market share performance in Latin America was encouraging ahead of the drier overhaul The business is now ramping up supply in the markets and we expect to see continued improvements.
While ASEAN is doing well in several markets, and with a hotspot in a few others. Mainland China is getting stronger in a highly competitive environment. The North American business is performing better. As the business pivots to broader the attrition, we see strong performance in a few brands like Neuriva and Abel. While there is a lot to be done over the next few years, we are laying stronger foundations as we build towards our medium term goal of 3% to 5% revenue growth per annum.
Now on to ERB. As a result of our early successes in e Commerce, CRM and digital, we've streamlined these businesses and functions into a unified unit under one umbrella called ERB. This unit is a key growth and capability driver and our expanded plan for ERB builds on the strong first half performance that I shared earlier. Without doubt, they will be pronounced shifts in behavior for consumers as they access more of their products online. We've been well placed because of the investments we've made today, The strategy I shared in February outlined 2 tailored business models, be big in these files.
The first about efficiency the second focus on D2C, CRM, and cross border. To last, you've added a third, be bold and open. A platform for our rocket brands and incubator partnerships. A great example of B FARS is the pace at which we're developing our D2C business using partners around the world. Since COVID started, we've added the capability to deliver 14 RB brands in 7 EU countries within 60 minutes to consumers in urgent need.
This new unit, we're focused on accelerating our investments and capability to build on progress to date, particularly through working proactively with platforms and partners. Building the strength and depth of our engagement across our portfolio and expanding across more borders with our strongest brands. We are constantly innovating here with new capabilities across border delivery, ultrafast fulfillment just to name a few. Our aspiration to have over 20% of our revenues generated through e commerce by 2025 is unchanged. These opportunities increase our confidence that we will deliver this while strengthening our brands and channels and with strong margins as well.
A key enabler of our growth opportunities is the work we're doing on our supply chain. Since our Q3 results, last year, as you know, this has been a key area of focus for the team and for me. We've made a strong progress in execution, particularly in the months of our COVID, with material improvements to our customer service and delivery performance. As COVID is onboarded, sorry, guys, need to start the slide again. A key enabler of our group opportunities is the work we're doing on our supply chain.
Since our Q3 results last year, as you know, this has been a key area of focus for the team and for me. We've made some progress in execution, particularly in the months before COVID, with material improvements to our customer service and delivery performance. As COVID has unfolded, our team has rapidly scaled the supply chain to meet demand. Their execution in a challenging environment has been remarkable. For example, we've sold 340 percent more dental hand sanitizer moving it from our 11th best SKU to the number 3 today and over 1,000,000 of extra waste across Dettol and Lysol combined, making wipes below now 12% of our disinfectant products by value.
However, in some parts of the portfolio, the discontinuous demand growth has challenged our ability to meet it. So while market shares increased, some of the growth opportunities we face have gone and met. In the short term, we're meeting these needs to working with co packers to expand available capacity. And where possible add our own lines as well as unlocking greater throughput for productivity and process improvements, as well as with FQ reductions. In the long term, we can optimize these growth opportunities by investing in new capacity and facilities and value further productivity, particularly for Detle and Lysol.
But we need to do this carefully, balancing flexibility with commitment. As the pandemic evolves around world, we're focused on the safety of our people, increasing flexibility and resilience, in our core operations, particularly for products like Mucinex, where our long lead times in the past have resulted in poor customer service These remain priorities for the business, but the program of investment will now be rephrased over a longer timeframe into 20212022. Let me now pass you to Jeff, who will take you for the financial implications of these changes. And how they impact our financial outlook. Jeff?
Thank you, Lexman. Our response to COVID-nineteen is to stay agile and where needed, modify and expand our plan. And on this chart, I'd like to be clear with reference to the key financial metrics of our rejuvenating sustainable growth plan. Plan is more important than ever, but as you see, elements of our plan have been rephrased due to COVID. And importantly, we've increased our total investment from GBP 2,000,000,000 to £2,200,000,000, to ensure our expanded plan delivers the full potential of our world leading disinfectant brands.
We said we'd make 150 basis points of GBP 200,000,000 of P and L investments. These are investments in price, commercial competitiveness and the capabilities needed to build the infrastructure to deliver sustainable outperformance. We will continue with these investments. However, they'll be more heavily weighted to the second half of twenty twenty and the first half of twenty twenty one. We will still invest 1,000,000 in transformation costs in 2020, 20212022, However, the investment in 2020 will be slightly lower than the 100 basis points we previously planned.
Our productivity program as discussed is on track. And as we investigate more options, We will look to expand this program in the future. Now due to our plan, we will be investing an incremental GBP 100,000,000 to fund the expanded plan. This will be funded through expected outperformance as we go forward. And likewise, while our capital expenditure was lower in the first half, we now expect to invest an incremental GBP 400,000,000 over 2020, 2021, 2022, as we build the capacity and supply chain to support our expanded plan, up from 1,000,000 previously disclosed.
Maxman has already outlined a key features of our expanded plan, but let me just reiterate. These include accelerating e commerce and digital, delivering the full Michael and set up potential accelerating our spanton into new CMUs, white spaces and print adjacencies, building our professional capabilities and supporting our supply chain to meet these demands. This next page highlights our medium term guidance, which is unchanged. However, let me just state these unprecedented times with an uncertain COVID health crisis and a significant economic challenge ahead of all of us. That said, our expanded plan increases act confidence of delivering against our medium term goals.
Specifically, in 2020, we expect net revenue growth for the full year of high single digits with 3% to 4% underlying growth. For 2020, we expect full year operating margins to be in line with current consensus, This reflects the rephrasing of our investments, resulting in a significant increase in investment levels in the second half of the year and some investments now falling into 2021. Our margin reset will deliver sustainable mid single digit growth and while margins would be less impacted in 2020 than originally anticipated. We expect to reflect the full 350 basis points versus 2019
over 20202021.
Thank you. Now back to Blackman.
Thank you, Jeff. As I mentioned in my opening, our expectations for the medium term remain unchanged on both growth and margins. However, we are pleased to be off to a strong start and feeling more confident about our long term financial algorithm. We're making strong progress on embedding our purpose, fights and compass in our culture. Our purpose and fight guide everything we do.
Our purpose is clear. We exist to protect heal and nurture in the relentless pursuit of a cleaner, healthier world. We are in a fight, a fight to make access the highest quality, highg, wellness and nourishment, a right, not a privilege. And our compass guides our decisions and actions on a daily basis in five areas. We do the right thing always.
2nd, we put consumers and people first. Next, we seek up new opportunities. We strive for excellence And finally, we build shared success, consumers, customers, partners and communities. I have been very proud of how as an organization, we have come together to play our part in combating the impact of COVID-nineteen. Our fight for access fund launched in February 2020 has already been mobilized, help deliver real on the ground benefits under resourced communities around the world.
Since then, we have donated the equivalent of 1% of our annual operating drop us to fund 20 initiatives across 40 one countries with organizations like the CDC Foundation, the NHS in the UK, the UN AIDS effort, the international rescue committee, and product donations in several countries around the world. Some of our savings from areas like travel have been donated by our teams to local organizations, consistent with our vision. Additionally, we have expressed our strong support for racial equality and Institute 104 Years Scholarships for STEM And Public Health through the United Legal College Fund, as well as directed our LifeOLVE Schools Program. To support 58,000 US Title 1 Schools, impacting over 15,000,000 children with the greatest needs. We also continue to develop our scientific credentials.
This month, we launched the Record Global Hygiene Institute We've key partners drawn from outstanding institutions worldwide in medical science, health and education. The aim of the Institute is to generate high quality scientific evidence to inform public health recommendations and promote behaviors that improve global hygiene. Additionally, we have formally signed a pledge to a 1.5 degree reduction in temperature and confirmed our commitments to get us to the targets in 2040, 10 years ahead of the PowerSchool. Since February, we have migrated to our proposed 3 GBU structure on July 1 as planned. Harrow Sanderbrook, Chris Lick, and Adi Siegel are in their new GBU roles.
We've also formalized our group executive committee, including 2 new appointments. Sammy Nasak joined us earlier this month as our new Chief Supply Chain Officer and is also part of our Group Executive Committee. Holco Cukun would join us at the end of the week as our new Chief Transformation Officer, taking on a leading role in developing the business and some of our new growth opportunities as well, including professional. Together, our senior leadership team is well positioned to lead RB to deliver on our growth aspiration. It brings together the best of RB experience with external thinking and innovative ways of working to create a truly global high performing organization.
As I close, let me reiterate the 4 key messages from this session. First, RB is off to a stronger than expected start for 2020. While COVID has had an impact, we are pleased that our underlying sales trends are also performing above our plan 2nd, RB is making good progress regarding the strategy outlined in February designed to rejuvenate sustainable growth. I believe we have made significant strides in improving We're also making good progress building an organization with the right capabilities and culture to realize long term opportunities for the company. 3rd, COVID 19 is having a profound impact on consumer behavior, not just for a few months or quarters.
There is no question that our purpose and fight, which we announced at the end of February 2020, are even more relevant in these times. 4th, we plan to leverage our strong outperformance and reinvest. We believe our expanded plan gives us greater confidence in achieving our medium term growth and margin goals.