April 30, 2020 / 6:16 AM / 2 months ago

Reckitt Benckiser posts record sales on disinfectant boom

FILE PHOTO: Products produced by Reckitt Benckiser; Vanish, Finish, Dettol and Harpic, are seen in London, Britain February 12, 2008. REUTERS/Stephen Hird

(Reuters) - British consumer goods firm Reckitt Benckiser Plc (RB.L) reported record quarterly sales growth on Thursday as customers stocked up on its Lysol disinfectants, Mucinex cough syrup and Dettol soap amid the coronavirus lockdowns.

First-quarter like-for-like sales rose 13.3%, easily beating analysts’ estimates of 5.3% provided by the company.

The growth marked the best sales increase since the company was formed in 1999 through the merger of Reckitt & Colman Plc and Dutch firm Benckiser NV.

Net revenue rose 12.3% to 3.54 billion pounds in the three months ended March, ahead of analysts’ estimates of 3.29 billion pounds.

The company also said it now expects performance in 2020 to be better than it initially anticipated.

Reporting by Siddharth Cavale in Bangalore; Editing by Sriraj Kalluvila and Saumyadeb Chakrabarty

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