Reckitt Benckiser sales fell, missing analyst forecasts as price rises slowed and volumes continued to decline https://t.co/ViYMiPp3DY via @business #giftlink
Reckitt Benckiser profits slump on sales slowdown and Middle East accounting issue https://t.co/kwdsS8A2IT
Reckitt Benckiser shares slide as sales drop https://t.co/MjCchPyEx3
Reckitt, the consumer goods group known for products like Nurofen, reported a drop in its fourth-quarter like-for-like net revenue, missing analyst expectations. The company announced its Q4 earnings with a net revenue of GBP 56 billion, against an estimated GBP 3.69 billion, and a like-for-like sales decrease of 1.2%, compared to the expected increase of 1.75%. For the full year, like-for-like sales grew by 3.5%, missing the forecast of 4.15%. The decline in sales was attributed to a slowdown in sales of cold and flu season products, alongside issues such as slowed price increases and volume declines. Additionally, Reckitt Benckiser faced a profit drop and a sales slump, partly due to an accounting issue in the Middle East. Shares of Reckitt Benckiser slid following the announcement of these results.
