British consumer healthcare company Haleon, which GSK recently officially spun off, has reported revenue growth of 13.4% (up 11.6% in t), to £5.2 billion (€5.9 billion), the first half of its financial year.
Reported operating profit for the first half increased 22.1% to £900 million (€1 billion), with margin up 120bps to 17.3%.
Adjusted operating profit increased 21.2% to £1.2 billion (€1.4 billion), up 15.5% at constant currency, while adjusted operating margin increased 90bps to 23.0%.
First-half net cash from operating activities amounted to £680 million (€776.8 million), including £224 million (€255.9 million) related to the net cash outflow from separation, restructuring and disposals, Haleon noted.
'Double-Digit Revenue Growth'
Brian McNamara, chief executive officer of Haleon, added, "Haleon performed strongly in the first half of the year with double-digit revenue growth, importantly with a healthy balance of price and volume/mix reflecting brand strength across our portfolio.
"Furthermore, we gained or maintained share in most of our business, demonstrating that continued investment is driving sustainable growth, even in difficult market conditions."
The company added that its revenue and adjusted operating margin guidance for the financial year remains unchanged from the trading update issued on 27 July 2022.
The company expected organic revenue growth for the financial year in the range of 6% - 8%.
McNamara added, "Whilst navigating the current macro-economic challenges and uncertainties, positive momentum in our business has continued into the second half. This combined with the strength of the business reinforces our confidence that we are well positioned to deliver on guidance this year and over the medium term."