(Alliance News) - Haleon PLC on Tuesday reported a strong performance in the first half of 2022 in its first earnings report since being split from GSK PLC in July and separately listed, noting double-digit revenue growth and profit rise.
For the six months that ended on June 30, the Weybridge, Surrey-based consumer healthcare products company reported a pretax profit of GBP864 million, up 17% from GBP736 million a year ago, as operating profit increased by 22% to GBP900 million from GBP737 million.
Revenue grew 13% to GBP5.19 billion from GBP4.58 billion.
Haloen noted that two thirds of its businesses gained or kept market share through "increased household penetration, winning new consumers with exciting innovations and activation, as well as channel expansion and geographic expansion".
In Oral Health, Haleon said revenue grew 5.1% to GBP1.44 billion from GBP1.36 billion a year earlier, maintaining its "tract record of market outperformance".
Chief Executive Officer Brian McNamara said: "I am incredibly proud that in the first half Haleon successfully completed its separation from GSK and became an independent listed company. Haleon performed strongly in the first half of the year with double digit revenue growth, importantly with a healthy balance of price and volume/mix reflecting brand strength across our portfolio."
Whilst noting current macro-economic challenges and uncertainties, Haleon said the positive momentum seen in the first half has continued into the second half of the year, as it backs
all medium term guidance.
Looking ahead, Haleon said it is well positioned to deliver on guidance this year, with 2022 revenue growth is expected between 6% and 8%.
Haleon completed its demerger from London-based pharmaceutical firm GSK on July 18. The consumer business previously had been 68% owned by GSK and 32% by US peer Pfizer Inc.
Haleon shares were up 0.9% at 261.78 pence each on Tuesday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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