October 19, 2016 / 6:15 AM / a year ago

Reckitt Benckiser third-quarter sales growth misses estimates

LONDON, Oct 19 (Reuters) - Consumer goods maker Reckitt Benckiser Group reported a bigger than expected slowdown in third-quarter sales growth on Wednesday, hurt by the continued loss of business in South Korea due to a scandal over humidifier sanitisers.

The maker of Durex condoms and Mucinex cold medicine said like-for-like sales rose 2 percent in the quarter.

That compares with analysts’ average estimate of 2.8 percent, according to a company-compiled consensus, and growth of 4 percent in the second quarter.

On a reported basis, the British company said sales rose 17 percent to 2.6 billion pounds ($3.19 billion), as the weak sterling lifted the value of overseas revenue.

Reckitt said it expects full-year sales growth of 4 percent. ($1 = 0.8149 pounds) (Reporting by Martinne Geller, editing by Louise Heavens)

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