Reckitt Benckiser Sales Beat Estimates as Retailers Stock Up
- Shares rise as much as 6.7%, steepest gain since October 2013
- Company expects cold-remedy destocking in first half of 2016
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Reckitt Benckiser Group Plc, the maker of Durex condoms and Nurofen painkillers, reported fourth-quarter sales growth that beat analyst estimates as retailers stocked up on cold remedies during a slow flu season.
Revenue advanced 7 percent on a so-called like-for-like basis, beating the 4.4 percent median estimate of analysts surveyed by Bloomberg. The company also announced estimate-beating full-year profit and forecast further growth in 2016, sending the shares up the most in more than two years.