FORECAST WRECKED

MORE than £2billion was wiped of the value of Cillit Bang maker Reckitt Benckiser at one point yesterday after the multinational slashed its annual sales forecast for the second time this year.

Reckitt saw sales in its health division, which makes everything from Strepsils cough sweets to Durex condoms, fall 0.3 per cent to just under £2billion in the three months to the end of September.

Boss Laxman Narasimhan blamed issues in the US and China. Despite quarterly sales in Reckitt’s hygiene arm rising 4.5, it cut expectations for the group’s full-year growth to between zero and two per cent. Reckitt’s share price fell sharply at one stage yesterday but recovered to close down 0.6 per cent.

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