News that Sensoyde toothpaste maker Haleon PLC (LSE:HLN, NYSE:HLN) could cut around 435 jobs as part of the shuttering of an oral products manufacturing site has lifted the shares 1.5%.
The FTSE 100 group, which was spun out of GSK two years ago, is planning to close a site in Maidenhead in the next two years.
A Haleon spokesperson confirmed the news to Reuters: "Following a strategic review of our global manufacturing capabilities, we have determined that our Maidenhead site is no longer a viable option for the manufacture of our products."
Results from the group earlier this month showed it grew revenues to £11.3 billion last year and made operating profits of almost £2 billion, which it celebrated by promising to reward shareholders by splashing £500 million on a share buyback.
For 2024, the consumer products group expects organic revenue to grow 4-6%, while adjusted operating profit will grow faster than turnover.