Haleon PLC on Wednesday upped its annual organic revenue growth guidance following a solid revenue performance in the first half of 2023.
Haleon is a Surrey, England-based consumer healthcare products company that spun off from pharmaceutical company GSK PLC in July 2022.
In the first half of 2023, Haleon posted a pretax profit of GBP960 million, up 11% from GBP864 million the year prior.
Revenue in the half totalled GBP5.74 billion, up 11% from GBP5.19 billion the previous year. On an organic basis, revenue growth in the half was 10%.
As a result of the solid half-year results, Haleon said it was "well-placed" for future growth and raised its annual guidance. It now expects organic revenue growth between 7% and 8% in 2023. Previously, the company had expected organic revenue growth "towards the upper end of a 4% to 6% range".
"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. Encouragingly this trend was consistent across the first and second quarters," said Chief Executive Brian McNamara.
"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," the CEO continued.
Haleon declared an interim dividend of 1.8 pence per share. In March, the company announced an inaugural final dividend of 2.4p per share for the trading period since its demerger from GSK.
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