Reckitt Benckiser bounces back from setbacks to lift sales target

​Durex owner Reckitt Benckiser finally gave the City pleasure on Friday as it bounced back from a tumultuous time and upgraded its sales forecasts.

The consumer goods giant behind Harpic toilet cleaner said it expects full-year revenue growth of 14%-to-15%, up from the previous guidance of 13%-to-14%.

Investors piled in, sending it to the top of the FTSE 100. The shares rose 428p, or 6.8%, to 6739p.

Its better outlook comes after net revenues jumped 23% in the second quarter, boosted by Reckitt’s purchase of US baby formula firm Mead Johnson for $17 million last year.

Pre-tax profits rose 9.5% to £1.1 billion.

New launches this year include Durex Air, another version of its thinnest condom.

The company suffered a number of setbacks last year, including a cyber attack and taking a £318 million hit amid a US pharmaceuticals probe linked to competition and consumer protection laws.

A note from house broker Deutsche Bank said: “It has been a very long and painful eight quarters in which RB tested our (and investors’) patience by facing a (seemingly never-ending) list of issues. Imagine our relief, therefore, when we saw the first half press release.”