Reckitt Raises Forecast as Shoppers Absorb Higher Prices
- Consumer goods company lifted prices and still volumes rose
- Reckitt’s sales benefited from baby formula crisis in US
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Reckitt Benckiser Group Plc raised its sales forecast as the company weathered soaring inflation and benefited from an infant formula shortage in the US.
The maker of Lysol and Dettol cleansers said sales growth will be in a range of 5% to 8% this fiscal year, up from a previous guidance of 1% to 4%, according to a statement Wednesday. It also expects growth in its adjusted operating margins.