Reckitt Benckiser Group Plc sales climbed in the second quarter, led by its consumer health and hygiene units, as higher prices outweighed declining volumes.
Sales rose 4.1% on a like-for-like basis, the maker of Strepsils lozenges and Durex condoms said Wednesday. Analysts expected growth of 3.9%. The Slough, England-based company now forecasts adjusted operating margins this year will be slightly above last year’s level, rather than in line or slightly above.
In April, Reckitt appointed Kris Licht as its new chief executive officer, to take over from interim boss Nicandro Durante by the end of the year. The CEO-designate has been leading the company’s health unit.
Consumer-goods giant Unilever Plc said Tuesday that it’s becoming more selective in raising prices as raw material inflation eases, which resulted in a rebound in the volume of beauty and personal care products sold.
Reckitt reiterated its target for net revenue growth of 3% to 5% this year on a comparable basis.
The shares declined as much as 2.7% in early London trading.
Separately, Reckitt said it was continuing the process aimed at transferring the ownership of its Russian business, which may include a transfer to a third party or to local employees.
(Updates with shares. A previous version of the story was corrected to say CEO-designate Licht was head of health, not hygiene)
