February 27, 2020 / 7:25 AM / a month ago

Reckitt Benckiser sales come in low, unveils 2 bln investment plan

Feb 27 (Reuters) - British household goods maker Reckitt Benckiser reported full-year comparable sales at the low end of company forecasts on Thursday, as it suffered from a slowdown in demand for over-the counter medicines in the United States and infant formula in China, its biggest market.

The company also unveiled the results of a strategic review under new Chief Executive Officer Laxman Narasimhan, saying it would invest 2 billion pounds over the next 3 years as it seeks to reclaim ground lost to its peers and generate mid-single digit organic revenue growth.

Like-for-like sales for the maker of Lysol disinfectant and Mucinex cough syrup were up 0.8% in year ending December. The company had forecast like for like sales growth between flat and up 2% this year. (Reporting by Siddharth Cavale in Bengaluru; editing by Patrick Graham)

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