Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Haleon PLC on Wednesday said strong performance across all categories and regions drove its quarterly growth.
Haleon is a Weybridge, Surrey-based consumer healthcare products company that spun off from pharmaceutical company GSK PLC in July 2022.
Revenue for the first three months of the year grew by 14% to £2.99 billion, driven by ‘growth across all categories.’
Haleon said operating profit in the first quarter was up 35% to £627 million, mostly thanks to separation and admission costs a year before. Haleon was listed in London in July of last year.
On an adjusted basis, operating profit rose 9.5% to £691 million. However, Haelon noted a lower adjusted operating profit margin, which fell 90 basis points to 23.1%, as a result of higher costs and foreign exchange headwinds.
Shares in Haleon were down 3.5% at 340.45 pence each in London on Wednesday morning.
Looking ahead, the company expects organic revenue growth for 2023 to be in the range of 4% to 6%, and added that its full year guidance remains unchanged.
Chief Executive Officer Brian McNamara said: ‘The new year has started well, and I am particularly pleased that we delivered a healthy balance of positive volume mix and price in the first quarter; demonstrating the strength of the brand portfolio combined with exceptional execution across our markets.’
Copyright 2023 Alliance News Ltd. All Rights Reserved.