lonrkt
Grim forecasts about poverty spreading in the UK amid cost-of-living crisisThe pound has been pummelled to fresh lows against the dollar reaching $1.15FTSE 100 and FTSE 250 open lower, with retailers, consumer goods companies and commodity giants downCovid rears up again in China adding to concerns about the fragile global economyFresh front in the ‘chip wars’ opens up, with Nvidia caught in the cross fire.UK Poverty Deepens Woes For The EconomyGrim forecasts about poverty spreading across the UK this winter highlight the deepening woes for the UK economy. With such a bleak winter ahead, the p...
ValueWalk
Reckitt Benckiser Group Plc (LON:RKT) reported underlying revenue of £12.9bn, excluding the sold Chinese Infant Nutrition business (IFCN China). This was up 3.3% on a constant currency, like-for-like basis (LFL) and was ahead of expectations. Performance was driven by improved pricing and sales mix, though volumes also rose slightly. Q4 2021 hedge fund letters, conferences and more Excluding IFCN China, underlying operating profits fell 2.6% to £2.9bn. That was largely due to cost inflation in the region of 11%. The group’s targeting LFL revenue growth between 1-4% for 2022. Despite CEO Laxman...
ValueWalk
Reckitt Benckiser Group Plc (LON:RKT)’s third quarter like-for-like (LFL) revenue rose 3.3%, with net revenue reaching £3.3bn. Trading has been better than Reckitt expected. Q3 2021 hedge fund letters, conferences and more Growth came from a balance between volume and price increases, while LFLs were up in all divisions and geographies, with North America the strongest region. Full year guidance has been upgraded, with revenue expected to grow 1-3%. Despite ongoing cost inflation, margin guidance remains unchanged. The shares were up 5% following the announcement. Reckitt Benckiser Sees Improv...
ValueWalk
First half like-for-like (LFL) revenue came in at £6.3bn, excluding the for sale Chinese Infant Nutrition business, a 3.7% annual increase. Changes in pricing and sales mix were behind revenue growth, though volumes also rose slightly. Operating profits declined 5% to £1.4bn, reflecting increased investment and cost inflation. Q2 2021 hedge fund letters, conferences and more The group plans price rises in the second half to cope with the rising costs but expects full year margins to decline between 0.4 and 0.9 percentage points. The board recommended an interim dividend of 73p. The shares were...
ValueWalk
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