Haleon Raises Guidance After Revenue Grew Ahead of Expectations

   By Elena Vardon 
 

Haleon on Wednesday raised its full-year guidance as it reported a better-than-expected 10.4% organic revenue growth for the first half of 2023 on pricing and positive volume mix.

The consumer-healthcare business--which was spun out of GSK and is partly owned by Pfizer--reported revenue for the six months ended June 30 of 5.74 billion pounds ($7.33 billion), up from GBP5.19 billion a year prior. This was ahead of estimates taken from a company-compiled consensus which had the figure at GBP5.69 billion, and had seen organic growth of 8.2% for the half-year.

Haleon--which houses Sensodyne toothpaste and Aquafresh mouthwash as well as over-the-counter medicines Panadol and Advil--lifted its organic revenue growth expectations for 2023, now seeing 7% to 8% growth. This is ahead of consensus views of 6.2% growth for the year and previous guidance of toward the upper end of the 4% to 6% range.

It also expects adjusted operating profit to grow between 9% to 11% at constant currency for the year. For the first-half, it posted adjusted operating profit of GBP1.27 billion--slightly beating consensus' GBP1.26 billion--or 8.9% on-year growth at constant currency.

The group declared an interim dividend of 1.8 pence a share.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

August 02, 2023 02:48 ET (06:48 GMT)

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