CDE via Reuters / BBC Consumer goods giant Reckitt reported that condom sales made up for losses registered from less sales of cold and flu medicines. According to a report on BBC, the sales of condoms jumped in countries where lockdowns were easing.
Shares fell nearly 2% in morning trade as a weak flu season saw fewer people reach for cold remedies and declining birth rates hit sales of baby formula products.
The report says that the company reported a “double-digit” increase in Durex sales in the first quarter of 2021, compared with one year ago. Event the sales for Lysol and Dettol were strong as hygiene habits improved.
Sexual wellness is seeing an uptick in markets that are relaxing social distancing measures, leading to double-digit demand for Durex condoms in the quarter, Narasimhan said. At the start of the pandemic last year, the firm said people were having less sex because of the coronavirus crisis, partly a “manifestation of anxiety”. Conversely, the company said sales of Durex jumped when social-distancing rules were relaxed in the summer. China was a big driver, but the company is also seeing resurgent demand in parts of the United States, Southeast Asia and Europe.
The company reported a 16.4% decline in sales for health products like cold and flu relief products such as Nurofen or Strepsils. It estimated that cases of flu were down by as much as 90%, while consumers had already stocked up last year.
The Slough-based company reported a 4.1% rise in like-for-like sales for the first quarter, higher than the 2.4% growth analysts had expected, according to a company-supplied consensus, led by Lysol and double digit growth for Airwick fresheners and Finish dishwasher pods.
The company’s chief executive Laxman Narasimhan said “Demand for Lysol and Dettol continues to be strong as consumers remain vigilant to the spread of the virus and see use of our products, and improved hygiene habits, as a way of protecting their health and regaining normality in their lives”‘ adding that the firm would continue to track changes in consumer behaviour and demand for different products at different stages of the pandemic.
The Slough-based company reported a 4.1% rise in like-for-like sales for the first quarter, higher than the 2.4% growth analysts had expected, according to a company-supplied consensus, led by Lysol and double digit growth for Airwick fresheners and Finish dishwasher pods.
via Reuters / BBC
