Reckitt Revenue Increased by 7.9% to $ 4.33 Billion in Q1

On April 26th, the parent company of Dettol, Reckitt Benckiser Group, announced its Q1 2023 financial results. The report shows that the company's net revenue for the first quarter was £3.917 billion ($ 4.33 billion), a year-on-year increase of 7.9%, with growth recorded in all business sectors and sales regions. The net revenue from e-commerce increased by 9%, accounting for 13% of the group's total net revenue.

In the hygiene products sector, overall sales in the first quarter increased by 2.0% to £1.591 billion ($ 1.76 billion). The detergent brand Finish, stain remover brands Harpic and Vanish showed strong growth, and the performance of disinfectant brand Lysol met expectations.

In the health sector, the net revenue for the first quarter was £1.643 billion ($1.82 million), a year-on-year increase of 12.5%. Dettol maintained its growth by launching plant-based products and introducing new long-lasting antibacterial products.

In terms of regional performance, the European market achieved double-digit growth in the first quarter, driven by an increase in sales of health-related products. The North American market grew by 5.2%. In developing markets, revenue in the first quarter increased by 4.8% year-on-year, driven by Latin America, Africa, the Middle East, and South Asia. China is expected to be a growth driver this year.

Reckitt Benckiser Group stated that the strong start to Q1 2023 was due to the company's recent product innovations. The company expects a year-on-year increase of 3% to 5% in net revenue for the group in 2023.

Nicandro Durante, Chief Executive Officer, said:“We have made a strong start to the year across each of our business units and geographies reflecting further delivery from the investments we have made. In particular, our innovation programme has seen good early success across multiple launches, including Air Wick Active Fresh and Air Wick Vibrant, Finish Ultimate Plus All-In-One, our Dettol long-lasting germ protection platform, and Durex Invisible. Further innovations are planned for the upcoming quarters.”

Source: Reckitt