Connect with us

Hi, what are you looking for?

Stock

Healthcare helps Reckitt beat quarterly sales estimates

LONDON (Reuters) -Reckitt reported a smaller than expected fall in third-quarter underlying sales on Wednesday, helped by its health business, which makes Nurofen painkillers and Strepsils lozenges.

The company, which also owns the Dettol and Lysol cleaning brands, said it was on track to meet full-year targets.

Reckitt’s quarterly like-for-like net sales fell 0.5%, ahead of the 1.7% decline analysts had expected in a company-supplied poll.

“Health delivered sequential improvement in the quarter and Hygiene delivered a solid quarter of growth despite a more competitive market backdrop in developed markets,” CEO Kris Licht said.

Price/mix, a metric that reflects how much Reckitt sold its products for, rose 0.9% while volumes declined 1.4%, weakened by Reckitt’s nutrition business. Analysts expected the price/mix to rise by 1.4% and volumes to fall by 3.1%.

A roughly 14% sales volume decline in Reckitt’s nutrition business was driven by “the combination of lapping high market shares experienced during the U.S. competitor supply shortage and the impact from the Mount Vernon tornado, which destroyed both finished goods and raw materials and impacted short-term supply to customers in the third quarter,” the company said.

This post appeared first on investing.com






    You May Also Like

    Editor's Pick

    Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

    Latest News

    A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

    Economy

    A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

    Investing

    Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

    Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 balanceandcharge.com