Home Business NewsBusiness Reckitt misses first-quarter estimates amid weak pricing

Reckitt misses first-quarter estimates amid weak pricing

by LLB Reporter
20th Apr 18 10:04 am

Health-related products saw like-for-like sales jump 1 per cent

British consumer goods giant Reckitt Benckiser has today reported lower-than-expected quarterly sales growth amid negative pricing.

The UK-based company, under pressure to boost revenue, is having trouble raising prices, due in part to intense competition among big retailers fighting off encroachment from the likes of drug store chains and Amazon.com.

CEO Rakesh Kapoor said: “Our priority remains organic growth under our new focussed organisation structure. The integration of MJN is going well.

“We have work to do in parts of our Health portfolio, particularly Scholl. I am very pleased to see such energy, focus and a strong start by the Hygiene Home team.”

The group said like-for-like sales rose 2 per cent in the first quarter while its volume was up 3 per cent, implying that overall pricing was negative.

Health-related products, which make up 62 per cent of the business, saw like-for-like sales up just 1 per cent, held back by ongoing declines at Scholl.

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