Haleon Reports 5% Organic Revenue Growth in Q3

By Ian Walker

Haleon Reports 5% Organic Revenue Growth in Q3; Reaffirms Full-Year Guidance

Haleon, the consumer-healthcare business, announced that it experienced a 5% increase in organic revenue during the third quarter, driven by pricing improvements and a positive volume mix. The company also reaffirmed its full-year guidance.

Q3 Revenue Figures

In the third quarter, Haleon recorded revenue of £2.80 billion ($3.40 billion), compared to £2.89 billion in the same period last year. This fell slightly below the company-compiled analyst consensus of £2.83 billion.

Organic Revenue Consensus

Analysts predicted a growth rate of 5.1% for organic revenue, which aligns with Haleon's achieved growth rate.

Pretax Profit and Adjusted Earnings

During the quarter, Haleon's pretax profit totaled £496 million, showing a marginal increase from £495 million in the previous year.

The company's adjusted earnings before interest and taxes (EBIT) reached £689 million, compared to the consensus estimate of £694 million. This metric eliminates exceptional and other one-off items, providing a clearer view of the company's financial performance.

Future Growth Outlook

Haleon remains confident about its growth prospects for 2023. The company expects organic revenue to grow between 7% and 8%, while adjusted operating profit is projected to increase by 9% to 11% at constant currency for the year.

Ownership Structure

Haleon was spun out of GSK and Pfizer's consumer healthcare business and currently holds a 7.4% stake in GSK. This stake was recently reduced from 10.3%. U.S. pharmaceutical giant Pfizer retains a 32% stake in Haleon.