Haleon Clocks Double Digit Growth In Interim Revenue, Profits; Sticks To Annual Guidance

Haleon Clocks Double Digit Growth In Interim Revenue, Profits; Sticks To Annual Guidance
  • Haleon PLC HLN reported a strong performance in 1H of 2022 in its first earnings report since separating from GSK plc GSK in July, with double-digit revenue growth and profit rise.
  • The consumer healthcare products company reported a pretax profit of £864 million, up 17% Y/Y, as operating profit increased by 22% to £900 million. Revenue grew 13.4% to £5.19 billion.
  • Haloen noted that two-thirds of its businesses gained or kept market share through 'increased household penetration, winning new consumers with exciting innovations and activation, as well as channel expansion and geographic expansion.'
  • Related: Haleon Shares Pop After Rejecting Zantac Indemnification Requests From GSK, Pfizer.
  • Oral Health's revenue grew 5.7% to £1.44 billion, maintaining its track record of market outperformance.
  • Chief Executive Officer Brian McNamara said, "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."
  • While noting current macroeconomic challenges and uncertainties, Haleon said the positive momentum seen in the first half continued into the year's second half.
  • The company reiterated FY22 revenue and adjusted operating margin guidance. Organic sales growth is expected to be 6-8%.
  • Price Action: HLN shares are up 1.18% at $5.98 during the market session on the last check Tuesday.

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