Reckitt Benckiser’s Q2 16 results came in below ours as well as consensus estimates (miss of 3.2% and 1.7%, respectively) as the South Korean Humidifier Sanitiser (HS) dispute turned out to be a bigger issue than earlier anticipated/ communicated by the company. Net revenue grew 6% to £2.3bn (3% cc, 4% lfl), with lost sales in the Asian nation (1.5% of FY 15 sales) lopping off 1ppt from top-line growth in the quarter. While an exceptional expense of £300m has been recognised
26 Aug 2016
Robust results marred by South Korean HS issue
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Robust results marred by South Korean HS issue
Reckitt Benckiser Group plc (RKT:LON) | 4,612 46.1 0.0% | Mkt Cap: 32,494m
- Published:
26 Aug 2016 -
Author:
Jyoti Prakash -
Pages:
3
Reckitt Benckiser’s Q2 16 results came in below ours as well as consensus estimates (miss of 3.2% and 1.7%, respectively) as the South Korean Humidifier Sanitiser (HS) dispute turned out to be a bigger issue than earlier anticipated/ communicated by the company. Net revenue grew 6% to £2.3bn (3% cc, 4% lfl), with lost sales in the Asian nation (1.5% of FY 15 sales) lopping off 1ppt from top-line growth in the quarter. While an exceptional expense of £300m has been recognised