Reckitt earnings miss forecast as challenges continue

London

BRITISH consumer goods group Reckitt Benckiser missed 2017 profit expectations and said tough trading in developed markets and rising commodity costs were set to continue, hitting its shares.

The maker of Durex condoms, Lysol disinfectant and Mucinex cold medicine reported higher fourth-quarter sales on Monday, in line with expectations, and forecast an increase for this year as it looks to move on from a turbulent 2017.

It pointed to an improved performance at its recently acquired Mead Johnson baby formula business, and raised its forecast for cost savings from that deal to US$300 mi…