Corporate Update – Reckitt Benckiser Group PLC
Reckitt Benckiser Group PLC announced that its core consumer‑goods revenue for the third quarter rose modestly on a like‑for‑like basis. In contrast, the overall group turnover fell on a comparable basis. The decline in group revenue was attributed to weaker performance in the nutrition segment, particularly the Mead Johnson Nutrition unit, and to a slowdown in the Vitamins, Minerals and Supplements (VMS) market in China. In emerging markets the company saw a solid increase, whereas sales in Europe were essentially flat and North‑American revenue slipped slightly.
Management cut its full‑year core revenue growth guidance to a narrower range, citing disruptions to its flagship disinfectant product and the noted slowdown in the Chinese VMS category. On the London Stock Exchange the shares closed slightly lower, reflecting the modest earnings lift and the revised outlook.
In the broader market, the FTSE 100 opened in decline on the day, with the index trading below its previous close as investors adjusted to the latest corporate data and to expectations for the upcoming UK budget announcement. The move was accompanied by a broader dip in consumer‑goods stocks, with Reckitt among the weaker performers in the index that day.
