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Reckitt cuts full-year outlook after third quarter sales fall

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Reckitt cuts full-year outlook after third quarter sales fall

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LONDON (Reuters) – Reckitt Benckiser <RB.L> cut its full-year sales forecast on Wednesday after another decline in quarterly sales, as the British consumer goods maker continues to struggle with fallout from a cyber attack, a failed product launch and a safety scandal in South Korea. The maker of Durex condoms, Nurofen tablets and Lysol disinfectants said it planned to restructure its business. [nL2N1MS116] Reckitt said third-quarter sales were 3.21 billion pounds, down 1 percent on a like-for-like basis. That fell short of analysts’ average estimate of 0.6 percent growth, a company-supplied consensus showed, and in line with a decline of 1 percent for the first half. The company said it was now targeting flat like=for=like sales for the full year, down from its previous target for growth of 2 percent.

(Reporting by Martinne Geller; editing by Jason Neely)
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