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Reckitt Benckiser: worst performer on FTSE 100 after results

(CercleFinance.com) - Reckitt Benckiser said it had a "solid finish" to the year in 2017, thanks to the acquisition of Mead Johnson Nutrition, adding the creation of two business units in health and hygiene, a deal that is expected to boost its long-term growth.


Reckitt - which makes Durex condoms, Veet hair removal cream, and Finish dishwashing tablets - saw its net revenue rise 15% last year.

However, the acquisition of Mead Johnson Nutrition in June 2017 and the disposal of the RB Food business in August 2017 had a positive net impact, increasing net revenue by approximately 15% at constant rates, the company said.

For 2018, the group expects 13-14% total revenue growth at constant rates, meaning 2-3% like-for-like revenue growth.

Some analysts cited a "vague" guidance for 2018 "unlikely to convert sceptics."

Reckitt Benckiser which is facing a "challenging, volatile environment," has decided to create two business units to drive long-term growth - health and hygiene home - a new structure in place since January 2018.

Reckitt shares are currently down 3.3% at 6,348 pence, representing the worst performer in the FTSE 100, after losing almost 7% over the past year.

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