THE WHAT? Reckitt Benckiser has reported a double-digit uptick in both profit and revenue for the first half of fiscal 2020. The manufacturer of Dettol saw net revenue swell 10.8 percent to £6,911 million thanks to increased demand for its health and hygiene products.
THE DETAILS Indeed, the Hygiene category was a particular highlight with revenue up 13.9 percent (reported), while health put on a slightly more modest but nonetheless healthy (scuse the pun) 8.8 percent.
The group’s operating profit rose a more than respectable 15 percent while earnings per share swooped 14.5 percent.
“The world has changed beyond recognition in 2020,” said Laxman Narasimhan, Chief Executive Officer. “COVID-19 is likely to be with us for the foreseeable future and, as a society, we are embedding new hygiene practices to protect our way of life. RB’s purpose, to protect, heal and nurture in the relentless pursuit of a cleaner and healthier world, has never been more relevant, and the efforts of our people have never been more important. I am extremely grateful to them.
THE WHY? With the largest portfolio of surface disinfectant brands, including well-known brands such as Dettol, Lysol and Sagrotan, RB is well placed to benefit from the cleaning trend spurred on by COVID-19. The company has also created a professional service business since March, signing cleaning contracts with Hilton, Avis and Delta Airlines among others.