UPDATE 3-Reckitt Benckiser's sales hit record on coronavirus disinfectant boom [Reuters (UK)]
Unilever PLC (UL)
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Source: Reuters
Reckitt Benckiser's sales surge on coronavirus disinfectant boom - Reuters 4 Min Read (Reuters) - Reckitt Benckiser ( RB.L ) achieved record sales growth in the first quarter and predicted a stronger than expected performance in 2020 as customers stocked up on Lysol disinfectants, Mucinex cough syrup and Dettol soap ahead of the coronavirus lockdowns. The boom in demand has come as the company had been battling intense competition in the health and hygiene industry. In February, Reckitt had announced plans to spend 2 billion pounds over the next three years to spur growth. Reckitt’s sales increase was also bigger than at Dove soap maker Unilever ( ULVR.L ) and Dawn detergent producer Procter & Gamble ( PG.N ), which also are getting a boost from people buying more soap during the crisis. “We have seen strong consumer demand, particularly in March and April but the split between defensive buying and higher levels of underlying consumption is unclear,” Chief Executive Laxman Naras
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