By Haleon, one of the FTSE 100 index top performers, reported a rise in pretax profit for 2023 driven by better-than-expected sales in all categories and regions. The company backed its targets for 2024 and saw a 7.7% increase in shares at 0921 GMT, reaching 338.2 pence.
Financial Performance Overview
- Pretax Profit: Increased to 1.63 billion pounds compared to GBP1.62 billion in the previous year.
- Adjusted Pretax Profit: Fell to GBP2.18 billion from GBP2.265 billion, missing market expectations of GBP2.215 billion.
- Revenue: Surpassed expectations at GBP11.30 billion.
Strong Growth Metrics
- Organic Revenue Growth: Rose by 8% with a breakdown of 1.0% volumes and 7.0% price increase.
- Adjusted Operating Profit: Experienced a 10.4% rise at constant currency to GBP2.55 billion.
Future Outlook
Haleon backed its 2024 target of organic revenue growth in the range of 4% to 6% and expects organic operating profit growth to outpace revenue growth. CEO Brian McNamara expressed confidence in the company’s ability to deliver on the set targets amidst a challenging operating environment.
Share Buybacks and Dividend Declaration
The company plans to allocate GBP500 million for share buybacks in 2024 to maintain capital discipline. Additionally, Haleon declared a final dividend of 4.2 pence per share, making the total dividend 6.0 pence per share.
Haleon remains focused on strategic growth opportunities and delivering value to its shareholders in the coming years.
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