Haleon, the former consumer health arm of GSK, has reported a 16.1% increase in third-quarter reported revenue, as it raised prices and lifted its sales outlook.
The company, which makes Sensodyne toothpaste and Panadol painkillers, said it now expects organic sales growth of 8.0% to 8.5%, versus its previous forecast of 6-8%.
Haleon said reported operating profit rose 12.2% to £569 million (€647.7 million).
'Positive Volume/Mix'
“Haleon delivered another strong quarter of growth in Q3 with 8% organic revenue growth and double digit growth for the nine months, with increased pricing through the year and continued positive volume/mix," commented Brian McNamara, chief executive.
He added that its Oral Health division saw 'accelerated growth', however its Vitamins, Minerals and Supplements division saw a slight dip in overall sales due to strong comparatives. Its Respiratory business was also strong, due to increased incidences of cold and flu, as well as continuing COVID concerns.
"Overall Haleon is demonstrating its strength in a challenging market environment," McNamara said. "Whilst macroeconomic conditions remain volatile and uncertain, we remain confident that the quality of our portfolio, disciplined execution of our strategy, and continued investment will enable Haleon to deliver on medium term guidance.”
GSK Performance
Last week, GSK beat analyst expectations for its third-quarter sales and profit, months after executing a rehaul of the business with the spinoff of Haleon.
The British drugmaker, now solely focused on vaccines and medicines, reported adjusted profit of 46.9 pence on sales of about £7.83 billion (€8.9 billion), compared with a company-compiled analyst consensus of 40.1 pence on sales of £7.32 billion (€8.3 billion).
The company also raised its forecast once again for 2022.
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