Home Business News Reckitt sales slump

Reckitt sales slump

by Thea Coates Finance Reporter
28th Feb 24 10:58 am

Dettol maker Reckitt have announced an “unsatisfactory” fall in sales in the latest quarter and revenues were around £55 million lower than expected amid a discrepancy in previous financial statements.

The company who makes Nurofen and Gaviscon said in the final quarter of 2023 like-for-like net revenues were down by 1.2% and overall net revenues fell 7% to £3.56 billion.

“Following investigation, we concluded a small group of employees had acted inappropriately and we are taking necessary disciplinary action,” the company said.

“We are confident this is an isolated incident specific to these two markets and does not impact our 2024 outlook and medium-term goals.”

Kris Licht, chief executive officer of Reckitt, said: “While our performance in Q4 was unsatisfactory, we look to 2024 and beyond with confidence.

“We target another year of mid-single-digit growth in Health and Hygiene, driven by a more balanced contribution from price, mix and volume.”

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