Reckitt reported estimate-beating Q3 21 sales, registering growth of 3.3% on a lfl basis (vs -0.3% consensus). The nutrition segment was finally back to growth following the disposal of IFCN China (completed on 9 September). Importantly, e-commerce sales (+23%) built on the momentum seen in 2020, with 2-year growth at 86% (vs 2019).
The firm now expects FY21 growth of 1-3% (vs 0-2% earlier). We will upgrade our estimates to factor in the strong Q3 as well as upgraded outlook.
27 Oct 2021
Surprising FY 21 guidance following solid Q3 21
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Surprising FY 21 guidance following solid Q3 21
Reckitt Benckiser Group plc (RKT:LON) | 4,160 1164.9 0.7% | Mkt Cap: 29,395m
- Published:
27 Oct 2021 -
Author:
Virendra Chauhan -
Pages:
3
Reckitt reported estimate-beating Q3 21 sales, registering growth of 3.3% on a lfl basis (vs -0.3% consensus). The nutrition segment was finally back to growth following the disposal of IFCN China (completed on 9 September). Importantly, e-commerce sales (+23%) built on the momentum seen in 2020, with 2-year growth at 86% (vs 2019).
The firm now expects FY21 growth of 1-3% (vs 0-2% earlier). We will upgrade our estimates to factor in the strong Q3 as well as upgraded outlook.