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Haleon dives after publishing its first set of full-year results since drug giant GSK spin-off
Haleon fell 4% after analysts warned ‘technical factors’ would lead to downward revisions to 2023 forecasts
Haleon shares fell yesterday after posting its first set of full-year results since its spin-off from drug giant GSK.
Shares in the FTSE 100 firm fell 4 percent, or 13 pence, to 313.6 pence after analysts at Jefferies warned “technical factors” would trigger downward revisions to 2023 forecasts.
The city had been eagerly awaiting the results following Haleon’s split from pharmaceutical giant GSK in July. Haleon owns brands such as Sensodyne toothpaste and Panadol paracetamol. For 2023, it said profit margin would be “almost flat” but sales would grow 4-6 percent.
In 2022, revenues rose 14 percent to £10.9 billion. Profits rose 14 per cent to £2.5bn, helped by exploding sales of cold and flu products.
Unlike some other consumer giants, Haleon’s revenues were boosted by volume sales and price increases, with price increases of 4.3 percent offsetting the impact of inflation.
It said consumers clung to big healthcare brands after the easing of lockdown restrictions prompted more colds and flus.