Reckitt delivered like-for-like (LFL) net revenue growth of 1.3% to £2.6bn in the core business over the first quarter. Declines in Europe and North America were more than offset by growth in Emerging Markets, including double-digit growth in China and India. Excluding seasonal cold and flu products, LFL net revenue growth was 3.1%.
Including the for-sale Mead Johnson business, Reckitt’s LFL net revenue grew 0.6% to £3.2bn.
Full-year guidance has been maintained, with the core business expected to deliver LFL net revenue growth of 4-5%.
Nearly £0.7bn of the ongoing £1.0bn share buyback programme has been completed.
The shares fell 6.6% in early trading.
Our view
HL view to follow.
Reckitt key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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