Reckitt Benckiser Cuts 2019 Guidance After Weak 3Q Performance
22 October 2019 - 5:57PM
Dow Jones News
By Ian Walker
Reckitt Benckiser Group PLC (RB.LN) on Tuesday cut its guidance
for the second time this year after a weak performance from its
health business, which was hurt by the U.S., China issues.
The consumer-goods company--which houses Dettol, Harpic and
durex among its brands--said it expects revenue for the year to be
flat to 2% growth. At the time of 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 Sept. 30 rose 5.3% to 3.29
billion pounds ($4.27 billon) taking the total for the year to date
to GBP9.53 billion. This compares with GBP3.12 billion and GBP9.26
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
GBP1.96 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
overall net revenue.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
October 22, 2019 02:42 ET (06:42 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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