Durex condoms maker Reckitt Benckiser cuts full-year outlook after Q3 sales fall
Reuters|
Oct 18, 2017, 12.27 PM IST
LONDON: Reckitt Benckiser cut its full-year sales forecast on Wednesday after another decline in quarterly sales, as the British consumer goods maker continues to struggle with fallout from a cyber attack, a failed product launch and a safety scandal in South Korea.
The maker of Durex condoms, Nurofen tablets and Lysol disinfectants said it planned to restructure its business.
Reckitt said third-quarter sales were 3.21 billion pounds ($4.23 billion), down 1 percent on a like-for-like basis. That fell short of analysts' average estimate of 0.6 percent growth, a company-supplied consensus showed, and in line with a decline of 1 percent for the first half.
The company said it was now targeting flat like=for=like sales for the full year, down from its previous target for growth of 2 percent.
The maker of Durex condoms, Nurofen tablets and Lysol disinfectants said it planned to restructure its business.
Reckitt said third-quarter sales were 3.21 billion pounds ($4.23 billion), down 1 percent on a like-for-like basis. That fell short of analysts' average estimate of 0.6 percent growth, a company-supplied consensus showed, and in line with a decline of 1 percent for the first half.
The company said it was now targeting flat like=for=like sales for the full year, down from its previous target for growth of 2 percent.
