The easing of coronavirus restrictions has boosted demand for cold and flu treatments as well as condoms, says Nurofen and Durex owner Reckitt Benckiser.
In a bullish update that sent shares up 5.8pc, the FTSE 100 firm reported a 3.3pc rise in sales to £3.3bn in the third quarter.
Reckitt noted a ‘sharp improvement’ in demand for treatments such as Nurofen, Strepsils and cough medicine Mucinex as the end of measures to contain Covid fuelled the spread of flu and colds.
The easing of coronavirus restrictions has boosted demand for cold and flu treatments as well as condoms, says Nurofen and Durex owner Reckitt Benckiser
Chief executive Laxman Narasimhan said: ‘For cold and flu, it’s early days in the season, but what we are seeing is [sales are] at levels which are higher than where we were in 2019.’ It also reported ‘continued positive momentum’ in its ‘intimate wellness’ division which includes Durex. But demand for disinfectant Dettol slowed.
Reckitt, whose brands also include Air Wick, Vanish and Gaviscon, has raised prices 2.8pc this year following ‘significant cost pressures’. Last week its rival Unilever, the owner of Dove soap and Marmite, said it had pushed prices up by 4pc.
Reckitt upgraded full-year revenue guidance, and expects underlying sales to rise by between 1pc and 3pc. Shares rose 318p to 5789p. Narasimhan pledged to return to revenue growth of around 5pc. He added: ‘There is more to be done, but today’s results are testament to our progress.’
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