Reckitt on Track in Q3; Shares Still Slightly Rich Despite Currency Tailwind
Reckitt Benckiser's third-quarter trading update keeps the firm on track to meet our full-year forecasts on an organic basis, but we are slightly raising our near-term revenue growth assumptions to account for the continued weakness in sterling. Around 85% of Reckitt's revenue, but significantly less of its costs, is derived from outside of the United Kingdom, and the recent depreciation of sterling against other major currencies is providing both a transactional and translational benefit to Rec...Reckitt Benckiser Group develops, acquires, produces, distributes and promotes consumer products in the health, hygiene and home categories. Co.'s health category covers treatment products such as pain and flu, and also wellness products in sexual wellbeing, footcare, vitamins and supplements. Co.'s hygiene category consists of personal and home hygiene products. Co.'s geographical segments comprise Europe (ENA) and Africa, Middle East (DvM). ENA comprises Europe, Russia/CIS, Israel, North America, Australia and New Zealand. DvM principally comprises North Africa, Middle East (excluding Israel) and Turkey, Africa, South Asia, North Asia, Latin America, Japan, South Korea and ASEAN.
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