Reckitt’s shares rise aided by Dettol and Durex sales boost

CONSUMER goods giant Reckitt revealed stronger-than-expected sales for the past quarter, as it cheered growth for brands including Dettol, Durex and Finish.

Shares in Reckitt climbed in early trading. It comes after the firm’s stock had dropped by around a third over the past 12 months amid pressure from cheaper, supermarket own-brand alternatives.

The company, which also makes Nurofen and Strepsils, said group like-for-like sales grew by 1.5 per cent to £3.73bn over the first quarter of 2024. Sales volumes dipped slightly by 0.5 per cent as higher pricing continued to support growth.

Kris Licht, chief executive officer, stressed that it represented a “good” quarter for the business. Brands such as Lysol, Dettol, Durex and Finish all sold higher volumes over the period.

The firm’s hygiene operation saw sales grow by 7.1 per cent for the quarter, with sales volumes up 2.9 per cent.

The company’s nutrition operation remained its weakest performing area, with sales down 9.9 per cent amid a 9.4 per cent drop in volumes bought by shoppers.

Mr Licht added: “We are well placed to deliver value creation by leveraging our strong portfolio of brands through investment and innovation.

He continued: “This drives our continued strong free cashflow generation.”