(Reuters) -Consumer goods group Reckitt beat expectations for third-quarter like-for-like net sales growth on Wednesday, boosted by strength in emerging markets, which marked a bright spot for a sector weighed down by broader pressures.
Reckitt has narrowed its focus to core brands and is cutting costs to increase margins under CEO Kris Licht as the sector contends with fragile consumer sentiment and pressure from private-label competitors.
The maker of Durex condoms and Lysol cleaning products reported total group like-for-like net revenue growth of 7% for the quarter ended September 30, compared with analysts’ average forecast of 6.4% in a company-compiled poll.
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While rivals Unilever and P&G have yet to report results, Nestle, the world’s largest pack