Reckitt reported third-quarter net revenue of £3.6bn, reflecting like-for-like (LFL) growth of 7.0% (6.4% expected). Its core operations drove the beat, helped by strong double-digit growth in emerging markets and a return to growth in North America and Europe.
Performance in its non-core operations was mixed, with strong growth at Mead Johnson Nutrition more than offsetting a decline in its Essential Home business.
Full-year guidance has been maintained, with LFL net revenue growth of more than 4% expected in its core business.
A quarter of the ongoing £1bn share buyback programme has been completed.
The shares were broadly flat in early trading.
Our view
HL view to follow.
Reckitt key facts
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