Sensodyne maker Haleon improves sales guidance after price hikes
The business saw revenues grow by 10.6% to £5.7 billion over the six months to June 30.
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Your support makes all the difference.Toothpaste and painkiller maker Haleon has hiked its sales forecasts after revenues jumped more than a tenth in six months driven by price rises.
The Sensodyne manufacturer said profits also improved over 2023 so far as a result.
The business, which was formed in a spin-off from pharmaceutical giant GSK last year, said it saw revenues grow by 10.6% to £5.7 billion over the six months to June 30, compared with the same period last year.
It told shareholders it saw 10.4% organic growth, with a 7.5% rise directly due to increased prices and a 2.9% rise linked to higher sales volumes.
Looking ahead, whilst we continue to expect a challenging environment given further pressure on consumer spending and global geopolitical and macroeconomic uncertainties, we remain confident in the resilience of Haleon's incredible portfolio of category leading brands
Haleon highlighted strong performances by its Sensodyne, Paradontax, Panadol and Denture Care brands.
The company said it now expects to deliver organic revenue growth of between 7% and 8% for the year, improving on its previous guidance of “towards the upper end of a 4% to 6% range” which it provided to shareholders in May.
Brian McNamara, chief executive officer of Haleon, said: “One year from listing, we are very pleased with Haleon’s first-half results.
“We delivered double digit organic revenue growth, with both price and positive volume mix.
“Looking ahead, whilst we continue to expect a challenging environment given further pressure on consumer spending and global geopolitical and macroeconomic uncertainties, we remain confident in the resilience of Haleon’s incredible portfolio of category leading brands.
“Our strategy is delivering; demonstrated with the strength of our results, and we remain confident that Haleon is well positioned for the rest of the year, as well as over the longer term.”