April 20, 2018 / 6:13 AM / a month ago

Britain's Reckitt Q1 sales growth misses estimates

LONDON, April 20 (Reuters) - British consumer goods maker Reckitt Benckiser reported lower-than-expected quarterly sales growth on Friday, hurt by further weakness in its Scholl footcare business.

The maker of Durex condoms, Lysol disinfectant and Mucinex cold medicine said like-for-like sales rose 2 percent in the first quarter. Analysts were expecting an increase of 2.6 percent, according to a company-supplied consensus.

Reported sales were 3.11 billion pounds ($4.37 billion), just shy of the 3.12 billion in analysts’ consensus.

The company stood by its 2018 forecast, which calls for revenue up 13 to 14 percent, with like-for-like sales up 2 to 3 percent. That would be an improvement from sales that were flat in 2017, due to a spate of issues from a product failure to a cyber attack.

($1 = 0.7111 pounds)

Reporting by Martinne Geller Editing by Edmund Blair

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