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Reckitt Benckiser: soft quarter; new structure.

(CercleFinance.com) - Reckitt Benckiser had a "soft" Q3, feeling the impact of a challenging market environment, which has prompted the company to reorganise for growth.

The British consumer goods group reported Q3 net revenue of 3.2 billion pounds, down 1% like-for-like and has said it was now targeting flat full-year like-for-like net revenue for the base business.

The firm also unveiled a new organisational structure, with RB Health including brands suchs as Nurofen, Strepsils, Durex, and Scholl, and representing approximately 60% of group revenue.

The other unit - RB Hygiene Home - will represent approximately 40% of group revenue and include Air Wick, Finish, Calgon, Vanish and Woolite.

"In our view, the new structure may a prelude to a split of the business or a sale of RB Hygiene Home, particularly if an attractive asset such as Pfizer's consumer health division becomes available," Liberum said this morning.

Reckitt shares, which have risen by just 2.5% year-to-date, are up 0.6% this morning.

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