UK FMGC giant Reckitt Benckiser's comparable net income rose 7% last quarter, beating expectations

UK FMGC giant Reckitt announced its third-quarter business data. The group's comparable net revenue for the quarter increased by 7% year-on-year, exceeding the market expectation of 6.4%. The company maintains its forecast of a 4% year-on-year increase in comparable net income for its core business for the full year, with an overall expected increase of 3% to 4% year-on-year after excluding the Essential Home and Mead Johnson businesses.

The company's core comparable sales for the quarter increased by 6.7% year-on-year, higher than the market expectation of 5.5%. Emerging markets drove overall sales with a year-on-year increase of 15.5%. Emerging markets accounted for 42% of Reckitt's quarterly core net income. The company expects to complete the sale of the Essential Home business by the end of this year