Reckitt Benckiser Says on Track for 2018 Targets After 3Q

   By Adria Calatayud 
 

Reckitt Benckiser Group PLC (RB.LN) said Tuesday that it is on track to meet full-year targets after a 2% rise in like-for-like revenue in the third quarter.

The consumer-goods company said total revenue fell 2% to 3.12 billion pounds ($4.0 billion) compared with the same period a year earlier.

The company behind brands such as Dettol, Durex and Cillit Bang said its third-quarter performance was hit by a temporary manufacturing disruption at its European Infant Formula and Child Nutrition plant. This weighed on sales to a number of markets, but the issue was resolved before the end of the period, Reckitt said. The company anticipates a "residual impact" in the fourth quarter and into 2019, it said.

Reckitt said it has sufficient momentum to absorb this manufacturing disruption fallout and reiterated its 2018 target of total net revenue growth at constant rates of 14% to 15%, and like-for-like revenue growth at the upper end of the 2% to 3% guidance range.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

October 30, 2018 03:36 ET (07:36 GMT)

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