Overall not a great update.
The good news out of that update was the very strong growth in Manicare and Swisspers, along with the growth in Multix and Lady Jayne.
However, a lot of 1H22 has been spent in lockdown, with groceries and pharmacies amongst the few categories of b&m stores remaining open. I would expect there was unusually high foot traffic / spending in these stores, which is unlikely to be replicated going forward. It'll be interesting to see how these same brands do in 2H22.
Regardless of the potential sugar hit the core personal care brands received during 1H22, it is positive to see private label doesn't appear to be eating too much of their lunch.
Overall not a great update.The good news out of that update was...
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