Reckitt Benckiser trading in line with expectations
By Sean Farrell
Date: Monday 27 Jun 2022
(Sharecast News) - Reckitt Benckiser said trading so far in the second half was in line with its expectations after warning in July that demand for cleaning products had peaked.
The maker of Dettol and Cillit Bang said it was confident that annual like-for-like net revenue growth would be 0-2% with an adjusted operating profit margin of 22.7-23.2%.
Reckitt's business boomed in the early stages of the pandemic as demand surged for disinfectants and surface cleaners but at its annual results the FTSE 100 group said it expected a slower third quarter. Demand had moderated partly because of the rollout of Covid-19 vaccines, it said.
"Trading since the half year results on 27 July has been in line with management expectations," Reckitt said in a short trading update. The company said it would hold the first in a series of mini investor seminars at 14:00 BST on Thursday.
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