HLN Haleon Plc

By Michael Susin

Haleon PLC reported an increase in pretax profit in the first half of 2022, driven by a robust brand performance, and backed its guidance for the full year.

The consumer-healthcare business, which was spun out of GSK PLC and is partly owned by Pfizer Inc., reported revenue of 864 million pounds ($988 million) for the six months compared with GBP737 million for the same period a year ago.

First-half revenue rose to GBP5.19 billion from GBP4.58 billion, while organic revenue growth rose 11.6%, consisting of 7.9% volumes and 3.7% price mix, boosted by a robust product performance with Panadol, Theraflu, Otrivin, Advil and Centrum particularly strong, it said.

The company backed its full-year guidance, with organic revenue growth expected to be in the range of 6%-8%, while adjusted operating margin--which strips out exceptional and other one-off items--is expected to be slightly down from 22.8% at constant currency on last year.

"Whilst navigating the current macroeconomic 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," Chief Executive Officer Brian McNamara said.

The company reiterated its medium-term guidance, with annual organic revenue growth target in the range of 4% and 6% and its intention to start an initial dividend payout.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

September 20, 2022 02:40 ET (06:40 GMT)

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