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Mideast War Weighs on Parent of Durex Condoms

Reckitt Benckiser Group Plc reported Q1 sales rose 1.3% on Wednesday, missing analyst expectations of 2.8%, sending shares down as much as 6.5% in early London trading.
Sluggish demand for cold medicines in the US and supply disruptions from the Middle East conflict combined to weaken results. Reckitt reported no revenue growth in the Middle East region.
Chief Executive Officer Kris Licht is focusing on 11 Core Reckitt brands to overhaul operations. Despite $203 million in added input costs from the conflict, the company maintained 4% to 5% full-year revenue growth guidance.
Barclays analyst Warren Ackerman noted Reckitt has less "wiggle room" to absorb shocks, warning that further geopolitical or operational disruptions would strain market expectations.
Excluding US over-the-counter drugs, growth reached 3.1% fueled by China performance. European Union sanctions on Russia, however, hampered Reckitt's ability to supply household care products there.

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