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Reckitt Benckiser Group profit misses consensus by 17.6% in H1

Reckitt Benckiser Group PLC said its first-half normalized net income was 80 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 98 pence per share.

EPS rose 9.3% year over year from 74 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £584.4 million, a gain of 8.7% from £537.5 million in the year-earlier period.

Total revenue came to £4.36 billion, compared with £4.32 billion in the prior-year period, and total operating expenses declined on an annual basis to £3.40 billion from £3.44 billion.

Reported net income grew 7.8% year over year to £708.9 million, or 98 pence per share, from £657.3 million, or 90 pence per share.