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Reckitt, a leading player in the consumer goods industry, raised its annual revenue forecast following robust second-quarter net sales growth. This improvement is largely attributed to strong performance in emerging markets, which helped offset weaker results in North America and Europe.
Shares surged by 10%, reaching their highest level since early 2024, and indicating the largest single-day rise since 2000. Under CEO Kris Licht’s leadership, Reckitt is strategically focusing on its 11 ‘power brands’ to navigate fierce competition and declining demand.
The company reported a like-for-like quarterly net revenue growth of 1.9%, surpassing the previously expected 1.7%. Additionally, Reckitt launched a new share buyback program worth £1 billion over the next year as it continues to adapt to challenging consumer conditions in developed markets.
(With inputs from agencies.)
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What was the percentage increase in Reckitt's shares following its improved revenue forecast?
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