Q1 revenue growth for Reckitt driven by COVID-19 hygiene ‘vigilance’
Reckitt Benckiser Group (rebranded from RB to Reckitt) has experienced further revenue growth in the first quarter of the year.
The group has seen a like-for-like increase in overall revenue of more than 4.1 per cent, driven largely by its hygiene business - with its revenues up by 28.5 per cent.
Despite the firm’s health business dropping by 13 per cent, Reckitt announced “strong growth” in sales of sexual wellbeing products and Gaviscon.
Laxman Narasimhan, chief executive officer, commented: “2021 has started well with like-for-like net revenue growth of +4.1 per cent in line with our expectations. This brings two-year growth to over 17 per cent as we lap the pantry loading of March 2020.
“Demand for Lysol and Dettol continues to be strong as consumers remain vigilant to the spread of the virus and see use of our products, and improved hygiene habits, as a way of protecting their health and regaining normality in their lives.
“We see continued strong demand for our brands, better execution, and the benefits of our recent investments feeding through in the form of more focused innovation, increased capacity, and better customer service.
“There is still much to do, and the actions we are taking make Reckitt a stronger, more competitive, business with each day. We have the right team in place, and our portfolio is increasingly well-positioned to benefit from attractive market fundamentals. We continue to be confident in the outlook for both 2021 and the medium-term.”
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