Reckitt cuts forecast as US tornado damage hits baby formula sales
Adds details on tornado damage in paragraph 3, operating profit in paragraph 5
July 24 (Reuters) - British consumer goods groupReckitt RKT.L loweredits full-year sales growth forecastfor 2024 on Wednesday, due tosupply disruptions at its infant formulabusiness after tornado damaged a third-party warehouse in the U.S.
Reckitt, which makes Dettol and Lysol disinfectants, also said it had missed like-for-like net sales growth expectations for the second quarter.
The Mount Vernon warehouse in Indiana, out of action since thetornado struck on July 9, is an important site for the company's Mead Johnson Nutrition business, containing both raw materials and finished products.
For the full year, Reckitt now sees like-for-like revenue growth of 1-3%, down from its previous forecast of a 2-4% rise.
For the first half of 2024 Reckitt reported adjusted operating profit of 1.68 billion pounds ($2.16 billion), higher than the 1.63 billion pounds seen by analysts polled in the company consensus.
($1 = 0.7763 pounds)
Reporting by Agata Rybska, Editing by Louise Heavens
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