* Like-for-like sales in core business up 4.2%

* Emerging market like-for-like sales jump 9.4%

* Middle East operations and supply improved after initial

U.S.-Iran ceasefire

* CEO says oil-linked war costs remain manageable

July 29 (Reuters) - Dettol maker Reckitt beat

second-quarter sales growth estimates on Wednesday, as China,

India and other emerging markets drove further growth, and

launched a new share buyback of up to £500 million ($665

million).

Emerging markets have been a key growth engine for consumer

goods companies including Reckitt and Unilever ( UL ), helping

cushion the impact of higher costs and supply-chain disruptions

stemming from conflict in the Middle East.

Reckitt, which makes Durex condoms and Finish cleaning

products, posted like-for-like net revenue growth of 4.2% in its

core business for the quarter ended June 30, compared with the

3.6% forecast by analysts in a company-compiled poll.

Like-for-like sales from emerging markets jumped 9.4%, despite a

170-basis-point hit from Western sanctions on its Russian

business. Emerging markets account for 44% of revenue in

Reckitt's core business.

IRAN WAR COSTS 'MANAGEABLE'

The British company, which also produces Nurofen tablets and

cold remedy Lemsip, said its operations and supply in the Middle

East improved during the quarter following an initial ceasefire

between the U.S. and Iran.

CEO Kris Licht told Reuters that costs from the Iran war

were "not so significant" for the firm.

"There is a headwind on cost when oil prices are up but as

you've seen they also come down quite quickly. So it's a

manageable impact for us," he said.

Its North America business returned to growth in the

quarter, with like-for-like sales up 2.8%, driven by Lysol

cleaning products and over-the-counter cough medication Mucinex.

($1 = 0.7520 pounds)