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Reckitt Benckiser disappoints in the third quarter

The health and hygiene company has cut full-year revenue guidance for the second time in three months
Reckitt Benckiser disappoints in the third quarter

Reckitt Benckiser (RB.) has cut its full-year sales guidance for the second time in less than three months following what chief executive Laxman Narasimhan called a “disappointing” third quarter. Net revenue growth is now expected to be up 2 per cent at best or flat, a reduction on the 2-3 per cent increase anticipated at the time of first-half results in July. In May, management had reiterated a sales growth target of between 3 and 4 per cent for 2019. 

IC TIP: Hold at 5747p

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