Reckitt Benckiser 1Q Revenue Rose as Prices Were Hiked
April 29 2022 - 2:17AM
Dow Jones News
By Michael Susin and Ian Walker
Reckitt Benckiser Group PLC said Friday that its first-quarter
revenue rose 5.6% on a like-for-like basis as it increased prices,
and that it expects like-for-like revenue growth for the year to be
at the top end of its forecast range.
The consumer-goods company--which houses Dettol, Harpic and
Durex among its brands--said quarterly revenue to 3.42 billion
pounds ($4.26 billion) as it raised prices by 5.3%, while volumes
grew 0.3%.
Revenue was forecast at GBP3.31 billion, according to a
company-provided consensus. Like-for-like sales consensus forecast
was 1.5%.
Sales were boosted by the health and nutrition units, which grew
20.6% and 20.4%, respectively. Hygiene sales grew 9%.
The FTSE 100-listed company reiterated that it expects expect
adjusted operating margins to be in line with both the prior year
and current market expectations, while continuing to invest in the
long-term growth of its brands.
Like-for-like net revenue growth guidance is for growth of
1%-4%.
"As we look to the balance of the year, the operating
environment remains highly unpredictable. We are well placed to
address these market dynamics through the strength of our brands,
our favorable product mix, our productivity program and the
responsible pricing initiatives already undertaken, with scope to
take further actions," Chief Executive Laxman Narasimhan said.
Write to Michael Susin at michael.susin@wsj.com and Ian Walker
at ian.walker@wsj.com
(END) Dow Jones Newswires
April 29, 2022 03:02 ET (07:02 GMT)
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