{"text":[[{"start":7.38,"text":"Reckitt Benckiser cut its sales guidance for the year after the London-listed group faced manufacturing issues for its Lysol brand in North America and a hit to its Chinese supplements business."}],[{"start":18.12,"text":"The Durex and Strepsils maker lowered its full-year like-for-like net revenue growth guidance to a range of 3.5 to 4.5 per cent, down from 4 to 5 per cent."}],[{"start":29.14,"text":"The company reported 3.3 per cent revenue growth in the third quarter, below analysts’ expectations of 4.1 per cent. The group’s European business returned to growth, up 0.8 per cent, despite the “challenging” consumer environment and lower cold and flu incidence."}],[{"start":46,"text":"Reckitt said that “temporary manufacturing constraints” as it upgraded its facilities had limited its ability to meet demand for Lysol cleaning brands in North America. Sales in the region fell 1.3 per cent as a result, below the 1 per cent increase expected by analysts."}],[{"start":61.3,"text":"Emerging market sales rose 8 per cent in the quarter, lower than anticipated, after growth in the company’s Chinese vitamin, mineral and supplements business slowed. The company attributed the slowdown to false claims made by a competitor, which it said had damaged consumer confidence in the category."}],[{"start":78.16,"text":"Reckitt saw sales growth of its Move Free supplement brand in China decline after an Australian competitor, YouthIt, was investigated for false claims, including marketing locally manufactured products as imported."}],[{"start":90.04,"text":"The brand generates approximately £100mn in revenues, but Jefferies analyst David Hayes said the investigation prompted increased scrutiny of rival overseas brands. “We believe the resulting loss of consumer confidence has weighed on the broader imported supplements category,” Hayes said."}],[{"start":107.1,"text":"Group sales also took a hit from the sanctions on Reckitt’s hygiene business in Russia. In July, the company said it expected to take a £175mn hit from selling its business to a local consumer goods group, Arnest Management."}],[{"start":120.8,"text":"Changes to EU sanctions on Russia last year meant the company could no longer ship cleaning products into the country. However, Reckitt has retained its health business, including brands such as Nurofen and Gaviscon, which are exempt from sanctions."}],[{"start":134.36,"text":"Reckitt said that without Russia Hygiene, group sales growth would have been 3.9 per cent."}],[{"start":145.55,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793094051_4145.mp3"}