Reckitt Benckiser 1Q Revenue Rose Ahead of Views; CEO to Step Down

By Michael Susin

Reckitt Benckiser Group PLC said Wednesday that its first-quarter revenue rose supported by a broad-based growth across its businesses, and said it has appointed Kris Licht as Chief Executive Officer to succeed Nicandro Durante.

The consumer-goods company--which houses Dettol, Harpic and Durex among its brands--said revenue for the quarter was of 3.92 billion pounds ($4.86 billion), compared with GBP3.42 billion the same period a year ago as prices/mix was up 12.4%, while volumes fell 4.5%.

Revenue was forecast at GBP3.73 billion, according to a company-provided consensus.

Health and nutrition units sales on a like-for-like basis grew 12.5% and 11.9%, respectively, while hygiene sales rose 2.0%.

The company backed its guidance for like-for-like revenue growth in 2023 of 3% to 5% from the previous guidance of mid-single digits, while adjusted operating margin continues to be expected to be in line with or slightly above 2022 levels.

The company added that Kris Licht will become CEO designate as of May 1 and begin the transition into the role, taking over by the end of 2023.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

April 26, 2023 02:52 ET (06:52 GMT)

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