Reckitt Benckiser 1Q Sales Rose; Raises 2020 Expectations
April 30 2020 - 3:06AM
Dow Jones News
By Joe Hoppe
Reckitt Benckiser Group PLC said Thursday that its first quarter
saw sustained group growth of 13.3%, as demand for its health and
hygiene products soared in the wake of the coronavirus pandemic.
The company also backed its view for 2020.
Reckitt--which sells Lysol and Dettol products and Durex
condoms--said net revenue in the three months to March 31 stood at
3.52 billion pounds ($4.38 billion), driven by an underlying growth
in consumption and pantry loading thanks to government restrictions
on movement in key markets.
Reckitt said it now expects performance for 2020 to be better
than original expectations, though warned the outlook for the
majority of 2020 remains uncertain with significant
coronavirus-related challenges across its markets.
The company added that its new organizational structure to
rejuvenate growth is expected to be in place by July 1 and, while
there might be changes to the pace of some investments, it was on
track to deliver sustained mid-single digit organic revenue growth
by 2025.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
April 30, 2020 02:51 ET (06:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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