The parent company of Sensodyne and Panadol, Haleon, has reported a double-digit hike in revenue and profits in the company’s first set of company results since its move away from pharmacy giant GlaxoSmithKline (GSK).
The healthcare company revealed its revenues rose by 13.4% to £5.2 billion in the six months to June 30.
According to the company, its revenues were boosted by a strong sale across its range of respiratory health products during the cold and flu season.
Operating profits increased by over 22% year-on-year, equalling to £900 million in the first half of the year.
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The firm added that it is well positioned to navigate the current challenges the industry is currently facing, which includes rising inflation, and the cost-of-living crisis.
This is despite cost inflation soaring to 40% in the first half of the year, which the company managed to offset through forward buying and confirming in the majority of its materials contracts for the year.
Haleon, which employs around 22,000 staff around the world, split from GlaxoSmithKline in July this year and floated on the London Stock Exchange in Europe’s biggest listing for more than a decade.
“I am incredibly proud that in the first half Haleon successfully completed its separation from GSK and became an independent listed company,” Haleon’s CEO Brian McNamara said.
“I am also pleased that we delivered margin expansion in the first half despite significant cost inflation and absorption of standalone costs for the business.
“Whilst navigating the current macro-economic challenges and uncertainties, positive momentum in our business has continued into the second half.”
He added: “This combined with the strength of the business reinforces our confidence that we are well positioned to deliver on guidance this year and over the medium term.”
