Reckitt Benckiser has issued its second sales warning of the year and announced a significant restructuring of its business as it struggles to overcome the effects of a serious cyberattack and tough market conditions. The maker of Cillit Bang and Nurofen said that revenue in its core business was down 1 per cent like-for-like at £3.2 billion during the third quarter, which missed the market’s expectations of a 0.5 per cent gain. The fall in the third quarter was only a slight improvement on the second quarter, when it recorded its weakest quarterly performance ever with a 2 per cent decline in comparable sales. In the face of these challenging conditions Reckitt has now cut its full-year outlook and is targeting flat full-year like-for-like net…

Source: The Times October 18, 2017 07:52 UTC