By MarketWatch
LONDON--Consumer-goods company Reckitt Benckiser Group PLC (RB.LN) Wednesday upgraded its 2015 revenue target as it posted like-for-like revenue gains during the third quarter.
Net revenue was 2.20 billion pounds ($3.40 billion), up 7% on the quarter. On actual exchange rate, net revenue fell by 1%.
"Our strategy for growth and outperformance, focused on Powermarkets and Powerbrands, continues to deliver. In the third quarter we achieved continued broad-based growth throughout our European and North American Powermarkets, and double-digit growth in developing markets," Chief Executive Rakesh Kapoor said.
Known for its Durex condoms, Nurofen painkillers and Dettol brand of antiseptics, Reckitt's Health and Hygiene brands recorded an 8% growth, Mr. Kapoor said.
In July, Reckitt raised its full-year revenue growth expectations after it posted a rise in half-year profit boosted by its focus on health and hygiene products.
The company said it was targeting full-year revenue growth on a like-for-like basis of between 4% and 5% and moderate operating margin expansion on an adjusted basis in the second half. It previously forecast revenue growth of 4%.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet
Corrections & Amplifications
Story corrected at 0732 GMT because the original misstated the revenue target in the headline as "to above 5%."
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Reckitt Benckiser Upgraded 2015 Revenue Target to 5%. "Reckitt Benckiser Upgrades 2015 Revenue Target to Above 5%," at 0627 GMT, misstated the revenue target in the headline.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
