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Reckitt Benckiser Performs Ahead of Markets
Posted: May 1, 2012
Reckitt Benckiser reported its first quarter 2012 financials were in line and on track with its planning, with net revenue coming in at £2,357 million, well ahead of market growth. The company also reported a strong performance in emerging markets.
Rakesh Kapoor, Reckitt Benckiser CEO, said of the report, “Reckitt Benckiser’s first quarter results were on track and in line with our ingoing expectations. High-quality, volume led LFL growth of 4% was driven by continued excellent performance in emerging market areas and the success of innovations like Veet Easy Wax Roll-On and the Lysol No-Touch Kitchen System. These results give us the confidence to reiterate our FY 2012 target of like-for-like net revenue growth of 200bp above our market growth rate of 1–2%. We also expect to maintain full year operating margins.”
The company’s hygiene division, which includes beauty brands, saw net revenue increase 7% (6% LFL) to £964 million, largely driven by strong growth in its Dettol/Lysol brands across emerging markets, as well as in Europe and North America, supported by new initiatives such as the Lysol No-Touch Kitchen System in the US, and Dettol Daily Care and Re-energize in emerging markets. Finish Quantum and All-in-1 continue to perform well, particularly in the U.S., where it gained further market share. Also, early success of Veet Easy Wax Electrical Roll-On is driving good growth, while Harpic continues to deliver sustained growth momentum.