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By Martinne Geller
LONDON, Oct 20 (Reuters) - Reckitt Benckiser on
Tuesday reported a bigger-than-expected rise in third-quarter
sales that were boosted as the coronavirus pandemic spurred
demand for cleaning products.
The British maker of Dettol and Lysol said sales on a
like-for-like basis, excluding items such as foreign exchange
fluctuations, rose 13.3%. Analysts on average expected a 9.5%
increase, according to a consensus provided by the company.
Quarterly net revenue was 3.51 billion pounds, up from 3.21
billion a year earlier.
The company raised its full-year net revenue outlook, saying
it expects a low double-digit rise, up from a previous forecast
of high single-digit growth.
Like-for-like sales rose 19.5% in the company's hygiene
business, 12.6% in its health business, which includes Durex
condoms and Mucinex cold medicine, and 4.1% in its nutrition
business, which includes Enfamil baby formula.
The COVID-19 pandemic has relieved pressure on a business
that has struggled against intense competition in the health and
hygiene sectors for several years.
Reckitt is preparing to sell some of its personal care
brands, including Veet hair removal cream and Clearasil acne
cream, Reuters reported last month.
(Reporting by Martinne Geller; editing by Jason Neely/Keith
Weir)