May 2, 2019 / 6:06 AM / 25 days ago

Reckitt Benckiser Q1 sales miss estimates

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

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