Reckitt Benckiser's Disinfection Brands Drove 3Q Revenue Growth Amid Pandemic

By Matteo Castia

Reckitt Benckiser Group PLC said Tuesday that its third-quarter revenue rose thanks to its disinfection business, and raised its full-year guidance for net revenue growth.

The consumer-goods company, which houses Dettol, Harpic and Durex among its brands, said quarterly revenue rose 6.9% year-on-year, or 13% on a like-for-like basis, to 3.51 billion pounds ($4.54 billion).

Year-to-date revenue stood at GBP10.42 billion, up from GBP9.26 billion in the year-earlier period, it added.

The company's fastest-growing region was North America, with sales rising 19% on the year, led by strong performance of disinfection brands like Lysol. Overall, significant growth was recorded across the board, with operational improvements and strong disinfection business driving results, the company said.

For the same reason, the hygiene sector saw the most pronounced growth, with sales up 13% year-on-year to GBP1.49 billion.

Reckitt Benckiser said it now expects full-year like-for-like net revenue to increase by a low double-digit percentage on the year. It had previously guided for high single-digit percentage growth.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

October 20, 2020 02:37 ET (06:37 GMT)

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