Reckitt: share drops despite increased targets

(CercleFinance.com) - On Wednesday Reckitt raised its annual sales target after reporting better-than-expected Q3 sales, boosted by its baby food business.


The British consumer products maker said it now expects like-for-like sales growth of 6% to 8% this year, compared with a previous forecast of 5% to 8%.

The owner of Finish, Vanish, Nurofen, Strepsils and Veet brands also reported slightly better-than-expected quarterly sales thanks to its focus on health and baby food.

Q3 sales came in at 3.73 billion pounds, up 14% as reported and up 7.4% LFL, just above the consensus of 3.70 billion pounds.

The share is currently down 4.5% at about 5700 pence.


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