Reckitt Benckiser’s focus on key brands and markets pays off
CONSUMER goods group Reckitt Benckiser reported a slightly better than expected four per cent rise in underlying first-quarter sales yesterday as a new focus on its top brands and faster growing markets started to pay off.
New chief executive Rakesh Kapoor, who took over last September after Bart Becht’s shock decision to retire, said the group’s results were driven by strong emerging market growth and success with new products.
The maker of Nurofen painkillers and Cillit Bang cleaners reported a four per cent rise in like-for-like first-quarter sales when stripping out its Suboxone pharma unit.
Kapoor said strong emerging market growth was tempered by a “satisfactory” performance in Europe and North America with sales there down two per cent.
Kapoor launched his new strategy in February with a focus on fast-growing health and hygiene brands like Dettol and Lysol disinfectant and Durex condoms, and a big push into emerging markets, while increasing marketing spend behind key brands.