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Fashion & brands

Reckitt Benckiser tops FTSE 100 as Barclays highlights strong Mucinex sales

Nielsen market data suggests high double-digit, or even triple-digit, growth

Reckitt Benckiser moved to the top of the risers after a bullish update from Barclays.

Over the counter sales this quarter should be strong it said, driven by a strong flu season and easy comparison to a year ago.

Nielsen market data suggests high double-digit, or even triple-digit, growth in cold and flu treatment Mucinex.

Added to consumers switching away from rival Abbott, this could potentially add 4% to group organic sales and 6% to EPS this year.

Nielsen data suggests strong growth for the quarter, but this may include an element of retailer destocking and consumer pantry-loading.

Reckitt’s product mix and operational gearing meanwhile should also help offset headwinds from rising oil prices, even with low visibility.

The share price target is 9,100p against 6,032p, up 3.4% today.