On Tuesday Reckitt Benckiser Group cut its guidance for the second time this year after weak performance from its health business, which was hurt by the tension between the U.S. and China.
The consumer goods company , whose brands include Dettol, Harpic and Durex, said it expects revenue for the year to be between flat and 2% growth. In its half-year earnings in July, the company lowered its guidance to between 2% to 3% growth from the previously guided 3% to 4%.
Revenue for the third quarter ended September 30 rose 5.3% to £3.29 billion ($4.27 billon), taking the total for the year to date to £9.53 billion. This compares with £3.12 billion and £9.26 billion for the same periods last year. On a like-for-like basis third-quarter revenue was up 1.6% and 0.9% for the year to date.
Within this the health unit's revenue for the quarter was £1.96 billion, a 0.3% fall on a like-for-like basis compared with the third quarter of last year. This unit contributes 61% of the group's overall net revenue.
All Rights Reserved © 2024
