SLOUGH (dpa-AFX) - Reckitt Benckiser Group (RBGPF.PK, RB.L), on Wednesday, reported Q3 group net revenue growth of 7.4% on a LFL basis with price / mix improvements of 12.0% and volume decline of 4.6%.
Group net revenue was £3.735 billion, up 7.4% on LFL basis, and up 14.0% on an IFRS basis, reflecting the temporary uplift in demand for Reckitt Nutrition products due to the temporary supply shortages of infant nutrition products in the US.
Hygiene LFL declined 1.2%, while Health LFL grew 10.7%, and Nutrition LFL rose 24.7%.
Following a strong YTD performance, the company reiterated its full-year LFL net revenue targets, but narrowed the range to +6% - +8% for 2022 versus the previously issued range of +5% - +8%.
Further, the company continues to to expect inflation on its cost of goods sold to remain in the high teens for the full year. For the full year, Reckitt continues to expect growth in adjusted operating margins.
'We are already delivering sustainable mid-single digit net revenue growth and remain firmly on track to deliver our medium-term goal of mid-20s adjusted operating margins by the mid-2020s,' the company said.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
