Durex firm reports sales boost

Durex maker SSL International said today it was on track to meet profits targets after a strong showing from its key consumer brands.

Durex maker SSL International said today it was on track to meet profits targets after a strong showing from its key consumer brands.

The company, which also owns the Scholl footcare and footwear business, said Scholl and Durex products had been the “main drivers” behind an 8% rise in underlying sales for branded consumer goods, which are expected to reach £424m (€622m) for the year to March 31.

The London and Cheshire-based firm said the sales performance meant it was set to achieve its target of double-digit operating profits growth for the year.

SSL said the continued roll out of the Durex Play range, which includes sex toys and lubricants, and new footcare products such as Scholl Cracked Heel Repair Cream, had driven growth.

The company added that sales of its other brands, which include Meltus cough medicine and Mister Baby mother and baby products, were “broadly flat”.

Underlying sales for the overall group are expected to be ahead 7% at £477m (€700m) for the full year.

The firm was at the centre of bid speculation last week after rumours of a near-£900m (€1.32bn) offer for the business swept the market.

A host of consumer players including baby care company Johnson & Johnson, cosmetics firm L’Oreal, household cleaning goods company Reckitt Benckiser and cleaning and healthcare manufacturer Procter & Gamble have all been linked with potential bids for SSL.

Evolution Securities analyst Peter Cartwright said there were “no surprises” in today’s statement.

He said: “Everything is in line with expectations, and there is no mention of any potential offer.”

The company posted pre-tax profits up 9.2% to £18.9m (€27.8m) in six months to September 30 as sales hit £236.3m (€347m). It employs 4,500 people in 35 countries.

More in this section

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up