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Share Name Share Symbol Market Type Share ISIN Share Description
Reckitt Benckiser Group Plc LSE:RKT London Ordinary Share GB00B24CGK77 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -68.00 -1.06% 6,329.00 6,324.00 6,327.00 6,397.00 6,306.00 6,371.00 1,284,031 16:35:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 13,993.0 1,873.0 167.0 37.9 45,148

Reckitt Benckiser 3Q Like-for-like Revenue Rose, Raises 2021 Guidance

26/10/2021 7:52am

Dow Jones News


Reckitt Benckiser (LSE:RKT)
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By Joe Hoppe

 

Reckitt Benckiser Group PLC said Tuesday that its third-quarter revenue rose on a like-for-like basis but slipped on a reported basis, and raised its full-year revenue guidance.

The consumer-goods company, which houses Dettol, Harpic and Durex among its brands, said quarterly revenue fell 6.8% on year on a reported basis to 3.28 billion pounds ($4.52 billion). Like-for-like revenue growth was 3.3%, Reckitt said.

The company said its like-for-like broad-based growth and encouraging start to the cold and flu season was offset by mergers and acquisition expenses, and adverse foreign exchange movements.

Year-to-date revenue stood at GBP9.87 billion, up 3.6% on a like-for-like basis but down 5.3% on a reported basis compared with the year-earlier period, it added.

The company said that all of its geographic regions reported growth, and nine of its 10 largest brands sales are up by double-digit percentages on a two-year basis.

"Despite significant cost pressures, the benefits of our pricing actions, mix and productivity program, mean our margin guidance is unchanged, and we remain confident in our medium-term outlook," Chief Executive Laxman Narasimhan said.

Reckitt Benckiser said it now expects full-year like-for-like net revenue to increase by around 1% to 3% on year, on the back of its stronger-than-expected performance.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

October 26, 2021 02:37 ET (06:37 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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