Reckitt Benckiser shares drop 11% after sales miss and Middle East 'compliance issues'

Shares in the Nurofen maker Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) fell 11% with the market spooked by its fourth-quarter sales miss and a £55 million revenue hit related to compliance issues at two of its Middle East operations. At 11.05 am, the stock was off 654p at 5,184p after the company revealed the trading drag was the result of lower-than-expected demand for cold and flu remedies and voluntary recall of its Nutramigen infant formula. On the issue of the adjustment to net sales, Reckitt, whic ...