Haleon profits rise but margins squeezed by cost inflation
Haleon
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Profits at consumer health company Haleon on Wednesday came in below expectations as higher costs hit earnings margins.
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The maker of Advil and Sensodyne generated adjusted earnings per share of 4.2p on revenue of nearly £3bn, compared with analyst expectations for quarterly profit of 5.24p on revenue of about £2.9bn. re-tacx profit rose to £542m from £465m.
Haleon, which spun out as an independent company in July and made up of consumer health assets once owned by GSK and Pfizer, said adjusted profit margin due to "cost inflation and incremental standalone costs".
Last month it said it expected to be closer to the upper range of its predicted 2023 growth of 4-6%.
Reporting by Frank Prenesti for Sharecast.com