- Half year organic revenue growth of 10.4% to £5.7bn
- Interim dividend of 1.8p as previously guided
- Full year organic growth guidance upped again to between 7 and 8%
Haleon’s Earnings
“One year on from its IPO, Haleon PLC (LON:HLN) is celebrating with upgraded growth expectations for 2023. First half sales saw particularly strong growth in Respiratory Health, as much of the world caught a cold. But only 2 percentage points of the Group’s overall 10.4% organic growth can be put down to cold and flu, showing the benefits of Haleon’s diverse range of consumer health products.
Power brands such as Sensodyne and Panadol have been performing well, up by 10.1%. With price being the main contributor to growth, it was pleasing to see that volume was also in positive territory.
There’s no denying the strong execution so far at Haleon, and that’s reflected in the high teens rating. With a relatively low yield compared to the competition, and the prospect of continuing sell downs from Pfizer and GSK, Haleon needs to keep delivering if it’s to convince investors it’s a better buy than its peers.”
Article by Derren Nathan, head of equity analysis at Hargreaves Lansdown
