Q3 2018: Trading Update
Highlights
· LFL growth in Q3 of +2%. Continued momentum under RB 2.0, with growth in base Health and Hygiene Home businesses of +4% LFL. Total growth was negatively impacted by -2% (£70m) from a temporary manufacturing disruption at our European IFCN plant.
· LFL performance in Total Health was flat, comprising IFCN of -6% and Rest of Health of +4% driven by continued strong growth in OTC and improving trends in Wellness and Health Hygiene brands.
· LFL growth in Hygiene Home of +4%. Continued momentum with strong performances from Finish, Air Wick and Lysol in ENA and Harpic in DvM.
· We remain on track for the full year net revenue target of +14-15% (total constant), implying LFL revenue growth at the upper end of +2-3%.
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