Reckitt misses sales growth expectations

Reckitt Benckiser (RB.) is transforming itself from a general consumer goods company into a health and hygiene business. So naturally investors were disappointed when it missed the consensus estimate of 2.6 per cent like-for-like sales growth during the first quarter, coming in instead at 2 per cent. The health business grew by 1 per cent, held back by poor sales of its footcare brand Scholl. Plans are underway to improve this division, including new products in the pipeline.