The economic downturn could not put a dent in the sales growth of Reckitt Benckiser, the maker of Harpic bleach, Finish dishwater tablets and Strepsils lozenges. It has raised its sales forecast for the full year, since it continued to remain the shoppers’ choice as the premium-priced brands.

Chief executive, Bart Becht, reported a net revenue growth of 10% over 3 months to the end of September and raised like-for-like full year revenue target to 9% from 7%, and upgraded profit target of 11% to a minimum 11%.

Becht informed that the company was aiming for a full year growth rate of 9% on net revenue which would be second best year of growth since the merger in 1999. He considered this as pretty good achievement in prevailing market conditions.

Becht dismissed apprehensions that Reckitt’s brands were vulnerable to customer trading down. He brushed aside concern, with an emphatic “No”, that company was losing business to private labels.

He noted that Reckitt’s revenue growth was mainly due to premium-priced products, which suggested that shoppers were surely trading up. Becht supported his argument by citing success of Finish dishwasher tablets and air freshener Airwick Freshmatic.

Finance director Colin Day informed that profit growth in the fourth quarter might come down marginally since company would be investing in seasonal marketing campaign to ensure continuity of sales momentum into the New Year.