Reckitt Benckiser 3Q Like-for-like Revenue Rose, Raises 2021 Guidance
October 26 2021 - 2:52AM
Dow Jones News
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)
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