SLOUGH (dpa-AFX) - British nutrition products maker Reckitt Benckiser Group Plc (RBGPF.PK, RKT.L) reported Wednesday higher net revenues in its third quarter, with growth in Core Reckitt and Mead Johnson Nutrition, despite weakness in Essential Home revenues.
Looking ahead for fiscal 2025, the company said it is confident in delivering guidance, and expects another year of adjusted earnings per share growth. The Fuel for Growth programme is expected to help drive adjusted operating profit ahead of net revenue growth.
Further, Reckitt Benckiser continues to expect Group LFL net revenue growth of 3 percent to 4 percent, and LFL net revenue growth above 4 percent in Core Reckitt.
The company also maintained expectations for Mead Johnson Nutrition at low-to-mid single digit LFL net revenue growth in the year. Meanwhile, in Essential Home, it now expects a mid single digit decline in LFL net revenue, compared to previously expected low single digit decline.
In the third quarter, Group net revenue increased 4.5 percent from last year on IFRS basis to 3.61 billion pounds. Group like-for-like or LFL net revenue growth was 7 percent, driven by Core Reckitt and supported by Mead Johnson Nutrition.
In the quarter, group revenues were benefited by volume growth of 4.2 percent and price increase of 2.8 percent.
Core Reckitt net revenues were 2.60 billion pounds, up 4.2 percent on IFRS basis, and up 6.7 percent on LFL basis, led by stand-out growth in Emerging Markets and a return to growth in North America and Europe.
The company noted that third-quarter LFL net revenue in Core Reckitt was comprised 3.4 percent volume growth and 3.3 percent price/mix contribution.
Emerging Markets revenues of 1.08 billion pounds increased 11.8 percent and Europe revenues edged up 0.9 percent to 865 million pounds.
Meanwhile, North America revenues fell 2.5 percent on a reported basis, but grew 1.3 percent on LFL basis.
Mead Johnson Nutrition revenues were 529 million pounds, a growth of 18.9 percent on IFRS basis and 22 percent on LFL basis.
Essential Home LFL net revenue, meanwhile, dropped 6.4 percent on a reported basis and 4.9 percent on LFL basis from last year.
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