Reckitt Benckiser undershoots sales and profit expectations

Reckitt Benckiser (RKT) undershot market expectations for sales and profit growth in its fourth quarter as shoppers voted with their feet on price rises, while a compliance issue in the Middle East added to the pain. The consumer goods giant's shares were marked down by 12 per cent on the back of difficult annual results for new chief executive Kris Licht, who called the performance “unsatisfactory”.