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A-Brands

Haleon Posts Revenue Growth In First Half

British consumer healthcare company Haleon, which GSK recently officially spun off, has posted a trading update for the six months ended 30 June 2022.

The Panadol maker reported revenue growth of 13.4% (up 11.6% on an organic basis), to £5.2 billion (€6.2 billion), with strong performance across its Panadol, Theraflu, Otrivin, Advil and Centrum brands.

Rebound and strength in cold and flu season added 4% to organic growth in the first half, Haleon added.

E-commerce accounted for 9% of total sales in this period, growing in the high teens.

'Positive Momentum'

Brian McNamara, chief executive officer, commented, "Haleon delivered strong growth in the first half continuing the positive momentum seen since the start of the year. This reflects the strength of our portfolio, continued innovation and excellent commercial execution across our markets.

"Organic revenue growth of 11.6% was broad-based across all categories and geographic segments, and importantly reflected a healthy balance of price and volume mix."

Outlook For Remainder Of Year

The company has forecast organic revenue growth in the range of 6-8% for full-year 2022.

It expects adjusted operating margin to be slightly down at constant currency on last year (FY21: 22.8%).

Strong growth, the Pfizer synergies, pricing and ongoing supply efficiencies, will largely offset Haleon's standalone costs (£175 - £200 million) (€208.2 - €237.98 million), continued investment, inflationary cost pressure and the impact of Russia and Ukraine, the group said.

McNamara added, "With two strong quarters delivered and continued momentum into the second half, we now expect to deliver full-year organic revenue growth ahead of our medium-term guidance range. We continue to invest to drive sustainable growth and remain confident in delivering on our medium-term guidance."

Haleon will publish its full half-year results on 19 September 2022.

© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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