London (AFP) – Reckitt Benckiser, the British supplier of health and hygiene products including Durex condoms, said Wednesday that soaring oil prices caused by the Middle East war could cost it up to £150 million ($203 million).
Reckitt, whose brands also include Dettol surface cleaner and Nurofen painkillers, revealed the fallout in a first-quarter trading update. “Modelling a scenario of oil at $110 a barrel for the remainder of 2026 indicates a £130 million to £150 million gross impact on our input cost base…which we see as a manageable level,” it said.
Petrochemical-linked materials including ammonia, ethanol and silicone oil are used in the making and packaging of condoms, according to Bloomberg News. The financial newswire added in a report Wednesday that the Malaysian company Karex, which makes 20 percent of the world’s condoms, including for Durex, is preparing to raise its prices by up to 30 percent because of the war’s impact.
© 2024 AFP
