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Name | Symbol | Market | Type |
---|---|---|---|
Reckitt Benckiser PLC (PK) | USOTC:RBGLY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 0.17% | 11.60 | 11.50 | 11.67 | 11.6875 | 11.57 | 11.68 | 295,046 | 21:00:29 |
By Anthony O. Goriainoff
Reckitt Benckiser Group PLC said Wednesday that third-quarter revenue rose as it benefitted from foreign-exchange tailwinds of 8.5%, and that continues to expect inflation on its cost of goods sold to remain in the high teens for the year.
The consumer-goods company, which houses Dettol, Harpic and Durex among its brands, said quarterly revenue rose 14% on year on a reported basis to 3.74 billion pounds ($4.29 billion). Like-for-like revenue growth was 7.4%, Reckitt said.
Year-to-date revenue stood at GBP10.6 billion.
Reckitt Benckiser said it was narrowing it full-year like-for-like net revenue growth target to a range of 6% to 8% range from the previous 5% to 8% range.
"During the second half of the year, we expect nutrition margins to normalize, a higher level of investment versus the first half of the year, and to face a tougher inflationary environment as more favorable hedge positions prevailing in the first half are renewed at higher rates," the company said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
October 26, 2022 02:40 ET (06:40 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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