Reckitt Benckiser Group has reported higher quarterly sales, helped by growth across all regions, and stood by its full-year target.
The results beat some analysts' expectations, and provided more evidence that the consumer goods sector is moving past some of the troubles it saw in 2014 when a slowdown in emerging markets crimped demand for everything from soup to soap.
The maker of Durex condoms, Mucinex cold medicine and other goods said sales rose one per cent to £2.22 billion in the first quarter.
Sales rose five per cent on a like-for-like basis, which excludes the impact of currency, acquisitions, disposals and discontinued operations. Analysts on average had been expecting growth of 3.9 per cent, according to Bernstein.
Like-for-like sales rose three per cent in North America, helped by a strong flu season. Sales rose six per cent in developing markets, helped by improvements in India, partially offset by weakness in Brazil.
Reckitt said it was on track to meet its full-year goals for four per cent like-for-like sales growth and "moderate to nice" operating margin expansion.
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