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UPDATE 1-Reckitt Q3 sales up on coronavirus demand for cleaning products

Tue, 20th Oct 2020 07:08

(Adds revenue, outlook)

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
percent increase, according to a consensus provided by the
company.

Quarterly net revenue was 3.51 billion pounds, up from 3.21
billion a year ago.

Looking ahead, 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.
(Reporting by Martinne Geller; editing by Jason Neely/Keith
Weir)

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