Business
Q3 Trading Statement
Q3 Trading Statement.
About this update from Haleon Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n 2022 Q3 Trading Statement\n \n 1\n \n \n \n Three months ended 30 September 2022\n \n \n \n \n \n \n Another quarter of strong growth underpinned by positive volume/mix\n \n \n \n · \n Q3 Reported revenue +16.1%; organic +8.1% with 5.5% price, 2.6% volume/mix\n \n \n · \n 9m Reported revenue +14.4%; organic +10.3% with 4.0% price, 6.3% volume/mix\n \n \n · \n E-commerce 9% of total revenue with continued growth in the high teens\n \n \n · \n Healthy power brand Q3 organic revenue growth +7.4%; 9m +11.3%\n \n \n \n \n \n \n \n \n Pricing and efficiencies offsetting inflationary pressures\n \n \n \n · \n Q3 Reported operating profit +12.2% to £569m; margin 19.7% down 70bps\n \n \n · \n Q3 Adjusted operating profit2 increased 14.9% to £725m\n \n \n o\n Margin 25.1% down 20bps on a reported basis; down 90bps constant currency\n \n \n o\n Pricing and increased efficiencies fully offset inflationary pressures\n \n \n o\n Decline due to guided standalone costs and adverse transactional FX\n \n \n \n \n \n \n \n \n Increased financial flexibility despite adverse currency\n \n \n \n · \n Net debt £10,784m; further £250m of £1.5bn term loan recently repaid\n \n \n \n \n \n \n Upgrade to full year guidance\n \n \n \n · \n FY22 organic revenue growth now expected at 8.0-8.5%\n \n \n · \n FY Adjusted operating profit margin2 expected to be slightly above last year at actual exchange rates (FY21: 22.8%), given recent favourable translational FX movements3\n \n \n \n \n \n Brian McNamara, Chief Executive Officer, Haleon said:\n \n \n \n \"\n 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. We saw accelerated growth in the third quarter in Oral Health, whilst strong comparatives in Vitamins, Minerals and Supplements resulted in category revenue down slightly overall sales were similar to earlier quarters. Respiratory performance was strong given sustained incidences of Covid and cold and flu combined with s...