Business
Haleon Half Year Results 2023
Haleon Half Year Results 2023.
About this update from Haleon Plc
[{"type":"text","content":"\n\n 2 August 2023\n\n2023 Half year results \nSix months ended 30 June 2023 (unaudited)\n \n\n\n\n\nStrong growth, driven by price with another quarter of positive volume mix\n\n\n\n\n●\n\n\nH1 revenue +10.6% to £5,738m, organic growth1 +10.4% with 7.5% price and 2.9% volume/mix\n\n\n\n\n●\n\n\nPower Brands +10.1% organic growth1; with Sensodyne, parodontax, Panadol, Denture Care and Otrivin standouts\n\n\n\n\n●\n\n\n55% of our business gained or maintained market share2 year to date\n\n\n\n\n \n\n\n\n\nIncreased operating profit given positive operational leverage\n\n\n\n\n●\n\n\nH1 Adjusted operating profit1 increased 8.9% constant currency to £1,271m\n\n\n\n\n●\n\n\nH1 Adjusted operating profit margin1 22.2%, down 40bps constant currency\n\n\n\n\n●\n\n\nH1 Reported operating profit increased 26.8% to £1,141m\n\n\n\n\n \n\n\n\n\nStrong execution in delivering on deleveraging commitment \n\n\n\n\n●\n\n\nH1 net cash flow from operating activities was £749m with Free cash flow of £369m\n\n\n\n\n●\n\n\nNet debt at 30 June 2023 was £9,525m, representing 3.4x last 12 months net debt/adjusted EBITDA1\n\n\n\n\n●\n\n\nAgreed disposal of Lamisil for aggregate consideration of £235m; we expect total cash realised in connection with the disposal to be around £250m4. Completion expected in Q4.\n\n\n\n\n●\n\n\nInterim dividend declared of 1.8 pence per share\n\n\n\n\n \n\n\n\n\nWell placed for future growth, updated guidance\n\n\n\n\n●\n\n\nFY2023 organic revenue growth1 now expected to be 7-8%\n\n\n\n\n●\n\n\nFY2023 adjusted operating profit growth of 9-11% constant currency\n\n\n\n\...