Reckitt Benckiser said in a Q3 trading update that it is on track to deliver a strong 2016.
"In an environment where market growth rates have softened, we continue to make good strategic progress in all of our Powermarkets, particularly in India, and in China where we are driving strong development of our e-commerce channels," said CEO Rakesh Kapoor in a statement.
"We also had broad-based growth across our consumer health brands and continued improvement in our Hygiene portfolio. Our Q3 performance has been adversely impacted by the flagged issues in Korea, Russia and our Scholl innovation," he added.
"These challenges will impact the near term. We are targeting full year LFL net revenue growth* of +4%. We remain very confident that our medium and longer term strategic choices are right and will continue to drive shareholder returns."
- +2% LFL growth in Q3, impacted by expected headwinds. Total Q3 growth +17% benefitting from positive FX impact.
- YTD +4% LFL. We are targeting full year LFL growth* of +4%.
- ENA (Europe, North America, ANZ) - resilient performance across regions - despite materially lower Scholl / Amope, and weak consumer environment, particularly in Russia.
- DVM (Developing Markets) - continuing strong LFL growth, reduced by Korea. Strong growth in India and China. Brazil remains a challenging market.
- Category growth - similar trends to Q2, with strong, broad-based growth across consumer health except for weakness in Scholl / Amope. Hygiene saw continued strength, particularly in Dettol, Harpic and Finish. Home / Portfolio impacted by Korea.