Panadol maker Haleon takes hit from currency headwinds By Proactive Investors
Proactive Investors – Currency fluctuations meant Haleon PLC (LSE:LON:, NYSE:HLN), the 100-listed Panadol and Sensodyne owner, saw year-on-year reported revenue by 0.6% to £2.78 billion in the third quarter.
Stripping away the impact of the weaker US dollar, the consumer health giant’s organic revenues increased by 6.1%.
Reported operating profit increased by 20.7% to £705 million, boosted by a £121 million gain from the sale of its Nicotine Replacement Therapy business outside the US.
Haleon aims to complete £500 million in share buybacks in 2024, which, on top of dividends, means over £1 billion will be returned to shareholders.
Additionally, the company aims to further streamline operations with ongoing headcount reductions as part of broader cost-efficiency measures.
Chief executive Brian McNamara said: “Third-quarter trading was strong with momentum across the business underpinned by the strength of our brand portfolio driving market share gains.
“All three regions delivered volume/mix growth during the quarter, with North America showing the improvement we expected and China up strongly.
“Having achieved organic revenue and organic profit growth of 4.4% and 9.7% respectively year-to-date, we are well on track to deliver our full-year 2024 guidance.”
