Reckitt lifts sales forecast after reporting upbeat quarter -Breaking
[ad_1]
© Reuters. FILE PHOTO – Reckitt Benckiser products seen in London (Britain), February 12, 2008. REUTERS/Stephen Hird(Reuters) – Reckitt Benckiser Group raised Tuesday its full-year outlook after reporting stronger-than-expected sales for the third quarter. This was due to price increases and a surge in demand for Mucinex cold/flu remedies, as well as sexual wellness products.
Lysol, a manufacturer of cleaning products, reported an unexpected 3.3% increase in like-for–like sales during the third quarter. That’s more than 0.7% less than analysts had anticipated, according to a company report.
These sales were not included in the reported numbers and estimates.
However, the company raised its like-for-like full-year revenue growth projection to 1-3%. This was a change from flat to up to 2% earlier.
Reckitt reported that raw material prices have increased 10%, which is a significant increase from the previous 8-9% estimate. Reckitt cites challenges in particular in surfactants and paper, as well as tinplate because of the rising costs.
The FTSE-listed firm maintained its expected adjusted operating margin for this year at 22.7% to 23,2%, excluding IFCN China.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]
