Reckitt Benckiser Disinfectant Brands Drove 3Q Revenue Growth During Pandemic -- Update
October 20 2020 - 3:21AM
Dow Jones News
-- Reckitt Benckiser's third-quarter revenue rose 6.9%
year-on-year to $4.54 billion
-- Growth was supported by disinfectant brands such as Lysol
amid the coronavirus pandemic
-- The company raised its full-year like-for-like net revenue
guidance to low double-digit percentage growth
By Matteo Castia
Reckitt Benckiser Group PLC on Tuesday raised its full-year
guidance on the back of significant revenue growth in the third
quarter that was driven by the strong performance of its
disinfectant brands during the coronavirus pandemic.
The consumer-goods company, which houses Dettol, Harpic and
Durex among its brands, 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.
Reckitt Benckiser's third-quarter 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 said.
The company's fastest-growing region was North America, with
sales rising 19% on the year, led by strong performance of
disinfection brands such as Lysol. Overall, significant growth was
recorded across the board, with operational improvements and strong
disinfectant business driving results, the company said.
For the same reason, the hygiene sector had the most pronounced
growth, with sales rising 13% year-on-year to GBP1.49 billion.
Reckitt Benckiser said its GBP1.30 billion productivity plan
remains on track, while year-to-date savings amount to GBP300
million and are currently ahead of plan.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
October 20, 2020 03:06 ET (07:06 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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