Shares in Reckitt fell by more than 6% after the consumer goods group reported a 7% decline to net revenue in its essential home business.

The group put this division, which includes brands such as Cillit Bang and Air Wick, up for sale last summer. Today, it reported a fall in revenue across the division in the first quarter to £482m on a like-for-like (LFL) basis, in a Q1 trading statement.

Reckitt’s share price had begun the day at £48.10 per share. Overall, the FTSE 100 listed company reported lower than expected growth in revenue for Q1, which was up by 1.1% across the group, taking total net revenue for the quarter to £3.7bn.

The consumer health and hygiene product provider did however report LFL net revenue growth of 3.1% in its core business division, driven by germ protection (7.5%) and intimate wellness (16.6%) powerbrands, alongside “improved market execution and market share gains”, it said.

“We delivered a solid first quarter driven by Core Reckitt with continued strong growth in emerging markets,” CEO, Kris Licht, said.

“We continue to execute against our strategy to make Reckitt a more efficient, world-class consumer health and hygiene company, driven by increased investment, innovation, and our fuel for growth programme. Our portfolio of high-growth, high-margin powerbrands underpins our resilience, and we maintain our outlook for full year 2025 whilst recognising the more challenging macroeconomic outlook.”

Head of equity research at Quilter Cheviot, Chris Beckett, called Reckitt’s Q1 trading update a “mixed performance”.

“The core business, which Reckitt plans to retain, is performing well with sales up just over 3%, driven mostly by price increases, though volumes have shown some growth. This indicates that the core business remains strong and undervalued at the moment.

“However, the segment of the business that Reckitt is trying to sell, known as essential home, is struggling. Sales in this division are down 7%, entirely due to a decline in volume, particularly in household sprays where market share is being lost.

“This poses a challenge for Reckitt as they attempt to sell this underperforming segment. The company has expressed hope to complete the sale this year, but market conditions could cause delays, especially for private equity firms trying to raise finance in the current bond market.”

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