Dow Jones Newswires: GSK spinoff Haleon lifts guidance as revenue rises on higher sales and volumes

by | Nov 10, 2022 | Stock Market

By Michael Susin Haleon PLC said Thursday that organic revenue for the third quarter rose, driven by increased pricing and higher volumes. The consumer-healthcare business, which was spun out of GSK PLC and is partly owned by Pfizer Inc., reported a 10% rise in revenue for the quarter to 2.89 billion pounds ($3.28 billion). For the nine-month period, revenue rose 14% on year to GBP8.08 billion.

“Respiratory performance was strong given sustained incidences of Covid and cold and flu combined with successful innovation”, it added. Haleon–which houses Sensodyne toothpaste and Aquafresh mouthwash as well as over-the-counter medicines Panadol and Advil–upgraded its full-year guidance and currently expects organic revenue growth to be in the range of 8% and 8.5% compared with a previous range of between 6% and 8%. Its margin of adjusted operating profit–which strips out exceptional and other one-off items is currently expected to be slightly above last year’s margin of 22.8%, driven by positive foreign-exchange movements. GSK owns 13.5% of Haleon, while Pfizer owns 32%. Write to Michael Susin at michael.susin@wsj.com

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