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UK goods maker puts a cost on global cyber attack

Thursday, July 06, 2017 - 01:30

Britain's Reckitt Benckiser has downgraded its growth forecast, becoming one of the first companies to quantify the cost of a global cyber attack which the consumer goods maker said disrupted its manufacturing and distribution. As Laura Frykberg reports, multinational companies, along with Russia's biggest oil company and Ukrainian banks, were hit in an attack on June 27.

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A headache for British business, Reckitt Benckiser... The maker of Nurofen and other consumer products, warning of reduced revenue of two percent in the second quarter... After last month's global cyber attack. That's reportedly around 100 billion pounds. SOUNDBITE (English) JAMES HUGHES, CHIEF MARKET ANALYST, GKFX, SAYING: "It's affected them within manufacturing, it's affected them within delivery. And this affected them from invoicing customers, invoicing clients and being paid in the manner they need to." Several multinationals, Russia's biggest oil company and Ukrainian banks, were hit by the attack.. Which crippled computers with Microsoft's Windows by encrypting hard drives and overwriting files. On Tuesday, Ukrainian police seized servers at an accounting firm, they believe was involved. SOUNDBITE) (Ukrainian) UKRAINIAN NATIONAL POLICE SPOKESMAN, YAROSLAV TRAKALO, SAYING: "The influence of cyber criminals - which have obvious connections to Russia - is evident on the servers we've removed." The breach brings up questions over how businesses prevent it happening again in the future. Some say the answer to that - is by putting online security first. SOUNDBITE (English) JAMES HUGHES, CHIEF MARKET ANALYST, GKFX, SAYING: "2017 is seeing some real big issues come in from the technology which keep these companies going. So making sure that they work is has to be absolute priority for all companies." Something Reckitt Benckiser will perhaps look at more closely now. It also cut its full year revenue expectations by 1 percent. While its shares fell as much as 3.2 percent on Thursday.

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UK goods maker puts a cost on global cyber attack

Thursday, July 06, 2017 - 01:30