Reckitt Benckiser still riding hygiene wave as profits jump

Hygiene giant Reckitt Benckiser is still riding the wave of the pandemic engineering a shift toward greater cleanliness.

The Detol manufacturer posted over £3bn in net revenues in the three months to September, up 3.3 per cent on a like-for-like (LFL) basis compared to the same period last year.

Laxman Narasimhan, chief executive of Reckitt Benckiser, said: “In September, we reiterated the building blocks which will see Reckitt return to mid-single digit revenue growth and mid 20’s margins. There is more to be done, but today’s results are testament to our progress, with 3.3 per cent LFL revenue growth building on the 15.3 per cent growth of third quarter 2020.”

“Reflecting this strength, we now expect like-for-like net revenue growth for FY 2021 in the range of 1-3 per cent.”

“Despite significant cost pressures, the benefits of our pricing actions, mix and productivity programme, mean our margin guidance is unchanged, and we remain confident in our medium-term outlook.”

More to follow.