reckitt-posts-drop-in-fourth-quarter-like-for-like-net-revenue

Reckitt posts drop in fourth-quarter like-for-like net revenue © Reuters. FILE PHOTO: Lysol, a brand of Reckitt Benckiser Group PLC, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. REUTERS/Andrew Kelly/File Photo

LONDON (Reuters) -Consumer goods group Reckitt missed fourth-quarter like-for-like net sales expectations, it said on Wednesday, citing declines in sales of cold and flu season products.

The maker of Nurofen pain medication and Dettol cleaning products said it is “confident in the year ahead” and expects like-for-like net revenue growth of 2-4%, with mid-single-digit growth for its Health and Hygiene portfolios.

Reckitt said quarterly like-for-like net revenue fell 1.2% while analysts in a company-supplied poll had expected 1.6% growth.

“While our performance in Q4 was unsatisfactory, we look to 2024 and beyond with confidence,” CEO Kris Licht said.

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