Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) saw its first-half revenues move higher with the Durex to Veet consumer products group reiterating its confidence amid a challenging backdrop.
Revenue grew to £7.4bn in the first six months of the year, an 8.1% increase compared to the same period 12 months ago and 6% growth on a like-for-like basis.
In the second quarter, revenue was also up by 1.9% to £3.5bn, with like-for-like growth up 4.1%, the company said in a statement.
First-half operating profit on an adjusted basis grew by 0.2% to £1.76bn, although its operating profit margin fell by 180 basis points to 23.8%.
Reckitt said growth was “broad-based across our global business units,” with like-for-like sales higher across health, hygiene and nutrition by 8.8%, 3.6% and 5.3% respectively.
"Reckitt's strong first-half performance across our business units and through our earnings model reflects continued delivery from the investments we have made,” said chief executive Nicandro Durante.
“Our investments in R&D and innovation are now delivering. Finish 'Ultimate Plus All-in-One' has contributed to market share gains across Europe, and our recent launches of Air Wick 'Active Fresh' and 'Vibrant' have helped return Air Wick to growth in the first half," he added.
Looking ahead, the FTSE 100-listed company maintained like-for-like net revenue growth guidance at between 3% and 5%, and now expects adjusted operating margins to be slightly above 2022 levels.
“Amidst a backdrop of challenging market conditions and uncertainty, the business has strong momentum, yet with an opportunity to further strengthen our execution, optimise our cost base, and deliver improved returns to shareholders,” Durante said.