Reckitt reported estimate-beating Q1 22 sales, with the 5.6% growth largely attributable to price increases in response to inflation. Health (+20.6%) and Nutrition (+20.4%) more than offset the larger than expected decline in Hygiene (-9%). Not surprisingly, FY 22 top-line growth is now expected to be at the high end of the previous 1-4% range. We will upgrade our estimates marginally to reflect the strong Q1 and upgraded outlook.