LONDON, May 2 (Reuters) - Reckitt Benckiser Group reported lower-than-expected first-quarter sales on Thursday, citing a slow start to the year in its health business.
The maker of Strepsils and Mucinex cold medicine and Lysol cleaners said like-for-like sales rose 1 percent in the first quarter. Analysts on average were expecting sales on that basis to rise 1.8 percent, according to a company-supplied consensus.
The company called out an unusually weak cold and flu season in the United States and several European markets.
Net revenue was 3.16 billion pounds ($4.12 billion), missing analysts’ estimate of 3.19 billion pounds.
$1 = 0.7666 pounds Reporting by Martinne Geller; editing by Jason Neely