Reckitt Benckiser, the health, hygiene and home consumer products group, has released first quarter results (release). Total net revenue increased by seven per cent to £2,517m. Health and hygiene revenues rose by 30 and six per cent respectively, while home good stayed flat. The company's portfolio brand revenues fell by 37 per cent. Reckitt Benckiser owns a large number of household names including Vanish, Dettol, and Gaviscon.
Chief executive Rakesh Kapoor commented on the results:
We are pleased with a strong start to the year, with our Health and Hygiene brands leading RB's growth across all geographies. Growth was driven from a combination of innovations, increased Brand Equity Investments and better in market executions. Mucinex and Strepsils have done particularly well, benefitting from a higher incidence of flu in the US and Cold, Flu and Sinus innovations. Nurofen and Durex also had a strong performance.
We expect continued challenging market conditions but nonetheless we remain confident that we can achieve our full year targets of +5-6% total net revenue growth.