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BUSINESS
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National News
Sales of cleaning products rocket but birth rate set to fall SALES of air fresheners and cleaning products are soaring as workers focus on improving their new home offices, according to global consumer goods giant Reckitt Benckiser (RB). But social distancing has reduced sales of condoms and sexual health products, with bosses suggesting this could have a knock-on effect on its baby formula business next year with an expected fall in the global birth rate. Disinfectants remain in high demand and RB said its Dettol and Lysol products are winning new business, entering 19 new countries since February. The company, which owns brands including Airwick, Veet, Durex and Strepsils, said sales in the three months to the end of September jumped 6.9% to £3.51billion – or 13.3% when currency fluctuations are removed. Its hygiene division rose 12.4% to £1.49 billion, health was up 6.9% to £1.22billion and nutrition
fell 1.8% to £806million. In the first nine months of the year sales are now up 9.4% to £10.4billion. The company said: “The pandemic has heightened the societal importance of hygiene, seen increasingly as the foundation for health. “Demand for our category-leading disinfectant products has been exceptional in recent months, with increased penetration and new consumers demonstrating a preference for trusted heritage brands driving growth.
Cleaning “As a result, we expect structurally higher levels of demand to persist longer term as new consumer cleaning and sanitation habits become engrained.” But it warned: “There is also evidence that birth rates will be further lowered in coming quarters as a result of behaviour changes related to the pandemic. This is expected to have an impact on market growth for our infant nutrition business in 2021. “Sexual wellbeing products also saw temporarily reduced demand, due to reduced social interactions, although, where markets have started to open up, there have already been good signs of recovery.” The nutrition business, which includes supplements and vitamins also took a hit with consumers becoming less active during the pandemic.
Business in Ireland left flooded MANY businesses and shops in Cork city in Ireland have been left under a metre of water after significant flooding hit several streets overnight. Business owners are counting the cost of sudden flooding following yesterday [Tuesday] morning’s high tide. Despite flood warnings issued on Monday, many struggled to protect properties because of the speed at which the floodwater rose. The flooding came hours after the Government announced plans for the country to go into a Level 5 lockdown for six weeks. Cars left on a number of streets overnight were badly damaged. Video footage posted on social media shows beer kegs floating down Pembroke Street in the city. Other streets affected by the flooding include South Mall, Princes Street and Oliver Plunket Street. Motorists have been advised to avoid the city after the River Lee burst its banks.
Sinn Fein TD Donnchadh O Laoghaire tweeted: “Heartbreaking footage from the city centre this morning. “The last thing businesses and residents needed right now.” Co Cork has been hit by a number of floods over recent months, particularly in West Cork where widespread damage was caused to businesses.
NEWS IN BRIEF
BoE adviser has backed negative interest rates
Iceland and Britvic launch green packaging schemes
A BANK of England policymaker has become the latest to back the case for negative interest rates after warning that more action is likely to be needed as joblessness is set to soar. Monetary Policy Committee (MPC) member Gertjan Vlieghe said below-zero rates would offer some vital ‘headroom’ for policymakers as quantitative easing (QE) becomes a less powerful tool to help the economy. In an online speech, Mr Vlieghe also said he believes that the potential side-effects of negative rates are unlikely to outweigh the benefits to the UK economy. He joins fellow MPC members Silvana Tenreyro and Jonathan Haskel, who have both said evidence from the European Central Bank suggests that below-zero rates could boost lending and the economy. Mr Vlieghe’s support for considering negative rates came as he warned that there is a ‘tremendous challenge ahead’ for the economy.
SUPERMARKET Iceland is launching bread and potatoes in paper packaging, in its latest move to cut plastic waste from its products. And as firms seek to make packaging more sustainable, Robinsons fruit drinks maker Britvic announced it is accelerating the shift to 100% recycled bottles for its brands, and those it produces under licence such as Pepsi. Iceland is launching a standard pre-packed loaf of bread in fully recyclable paper packaging and potatoes in 100% plastic-free fully finished paper packaging, to create sustainable wrappers for everyday items. They are part of seven new plastic-free or heavily reduced plastic product lines introduced as part of a new trial, which also include apples, pears, strawberries, and mushrooms. Each trial is being run in different stores and for different periods of time so Iceland can monitor their success.
Wednesday October 21 | 2020