Reckitt Benckiser: upbeat for 2020 after strong quarter
(CercleFinance.com) - Consumer goods group Reckitt Benckiser said like-for-like revenue grew 13.
3% in the first quarter, led by strong demand for many of its hygiene and health products in these times of pandemic crisis.
The British company said that it has benefitted from strong demand for its cleaning and disinfection products Dettol, Lysol sanitizers, Mucinex expectorants and the painkiller Nurofen.
"Like-for-like growth was driven by exceptional growth in North America, with a likely significant pantry loading benefit," UBS analysts wrote in a note.
In its statement, RB said 2020 performance is now expected to be better than original expectations, which sent its shares up 5% on the London Stock Exchange on Thursday morning.
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