The condom manufacturing company Durex made known that will make an increase in their prices due to the increase in demand for these products and to compensate for inflation. The CEO of the British group Reckitt Benckiser, Laxman Narasimhan, said that they will have “another round of prices”, higher than the 1.7% rise they decided in the third quarter of the year.
This transnational reported a growth of 3.3% in the last quarter, compared to the 0.7% that they initially projected. Reckitt disclosed that the increased vaccination rates and improved mobility they favored the sector of sexual wellness products, such as Durex. On other special dates, such as Valentine’s Day, the sale of condoms and lubricants also increased, even during the pandemic.
Shares of this company rose 5.8% on the morning of Tuesday, October 26. They also reported that non-prescription drug sales increased 20% in the previous three months, driven primarily by cough and cold formulas.
However, Reckitt maintained that there is a sharp increase in raw material costs, which rose 10% during the last quarter. The company’s chief financial officer, Jeff Carr, told a news conference that they expect inflation to be “a bit higher” in the fourth quarter of 2021, according to Reuters.
Cleaning products maker Unilever warned last week that it would also apply a rise in their prices to counteract inflation. In economies like the United States, the government reported inflation of 5.4% in September, its highest level in 13 years.
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