Reckitt Benckiser 3Q Revenue Rose on Currency Effects; Expects Inflation in High Teens
26 Outubro 2022 - 3:55AM
Dow Jones News
By Anthony O. Goriainoff
Reckitt Benckiser Group PLC said Wednesday that third-quarter
revenue rose as it benefitted from foreign-exchange tailwinds of
8.5%, and that continues to expect inflation on its cost of goods
sold to remain in the high teens for the year.
The consumer-goods company, which houses Dettol, Harpic and
Durex among its brands, said quarterly revenue rose 14% on year on
a reported basis to 3.74 billion pounds ($4.29 billion).
Like-for-like revenue growth was 7.4%, Reckitt said.
Year-to-date revenue stood at GBP10.6 billion.
Reckitt Benckiser said it was narrowing it full-year
like-for-like net revenue growth target to a range of 6% to 8%
range from the previous 5% to 8% range.
"During the second half of the year, we expect nutrition margins
to normalize, a higher level of investment versus the first half of
the year, and to face a tougher inflationary environment as more
favorable hedge positions prevailing in the first half are renewed
at higher rates," the company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
October 26, 2022 02:40 ET (06:40 GMT)
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