Reckitt Benckiser Q1 LFL Revenue Up 1%; Affirms FY19 Outlook - Quick Facts
(RTTNews) - UK consumer goods giant Reckitt Benckiser plc (RBGPF.PK, RB.L) on Thursday reported first-quarter revenue of 3.16 billion pounds, up 1 percent on a reported basis and also up 1 percent on a like-for-like basis.
The company said it saw continued momentum in the Hygiene Home business, while it recorded a slow start in its Health business as expected. The company's health business unit or BU was impacted by the unusually weak cold and flu season across U.S. and several European markets as well as associated retailer inventory movements.
LFL performance in the company's Total Health segment was flat. LFL growth in the Hygiene Home portfolio was 3 percent, as Finish, Vanish, Harpic and Veja all performed well, driven by innovation-led growth.
E-commerce backed by strong investment, continued to perform well with 10 percent of net revenue coming from the faster growing channels in the company's Health BU.
Looking ahead, the Group said it is on track to achieve fiscal 2019 net revenue growth target of 3 percent to 4 percent on an LFL basis, with growth to be weighted towards the second half.
Rakesh Kapoor, Chief Executive Officer Reckitt Benckiser, said, "RB2.0 remains fully on track and we reiterate our 2019 targets of +3-4% LFL net revenue growth and adjusted1 operating margin to be maintained."
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