Reckitt Benckiser, the maker of Dettol, Durex and Gaviscon, has narrowed its full-year sales growth guidance for its core business to 3.5% to 4.5%, after manufacturing problems limited supplies of Lysol in the US.
The FTSE 100 consumer health and hygiene group said the new range reflects the Lysol disruption and a slowdown in China's vitamins, minerals and supplements category in the third quarter, partly offset by stronger early demand for its seasonal cold and flu brands.
It did not give the previous range in the announcement.
Like-for-like net revenue, which strips out currency swings and disposals, rose 3.3% in the third quarter at Core Reckitt, the group excluding the Mead Johnson infant formula arm. Excluding the Russia Hygiene business, which is being hit by international sanctions, growth was 3.9%.
Kris Licht, the chief executive, said North America "was below our expectations".
Sales there fell 1.3% to £649m. Reckitt said Lysol consumer demand stayed strong, but temporary capacity constraints meant it could not meet it fully while it upgrades its factories.
Retailer order timing also hurt the late part of the quarter, and the company expects that to reverse in the fourth quarter. It expects Lysol and the wider North American business to rebound.
Reckitt announced in September a multi-year investment of up to $600m in US innovation, healthcare access and supply resilience.
Emerging Markets were the strongest region, with like-for-like growth of 8.0% to £1,174m, or 9.8% excluding Russia Hygiene. South Asia, India, ASEAN and Africa all grew by double digits.
China grew by a mid-single-digit rate, although the vitamins category slowed after what Reckitt called false claims by smaller local rivals that damaged consumer perception.
Europe returned to growth, with sales up 0.8% to £867m, helped by Gaviscon, Vanish and Veet. Volumes fell 3.2%, with shoppers trading down to discount retailers.
Reckitt said it made selective price rises in Europe to cover higher input costs linked to the war in the Middle East.
Mead Johnson Nutrition grew 2.7% to £549m. The group still expects low-single-digit growth there for the year.
Reckitt kept its adjusted operating profit margin guidance for Core Reckitt and Mead Johnson at 24.9% to 25.6%. It said the second half would be much stronger than the first half's 23.6%.
It cut its expected 2026 net finance expense to £250m to £270m, helped by the tender of a Mead Johnson bond. For 2027 it expects £390m to £410m.
The company reiterated its medium-term target of 4% to 5% annual growth at Core Reckitt.
A £500m share buyback began on 5 August, with £90m completed by 23 October. Reckitt expects to complete the sale of Russia Hygiene in the second half of the year.
Group reported revenue fell 6.9% to £3.36bn, mainly because the Essential Home business was sold at the end of last year.
