Night Nurse maker Haleon PLC (LSE:HLN, NYSE:HLN) is expected to report a solid finish to 2025 next month, with investors watching closely for signs of margin improvement despite a weaker cold and flu season in key markets.
But analysts at UBS forecast fourth-quarter organic sales growth of 3.1%, slightly below consensus estimates of 3.7%, after a delayed start to the cough and cold season in Europe and North America.
They see full-year growth coming in at 3.2%, just under the company's guidance of "around 3.5%".
A more striking development is likely to be on the profit margin front.
UBS has raised its adjusted operating profit forecast by 2% to £2.52 billion, helped by favourable currency effects. That would lift Haleon’s full-year operating margin to 22.8%, a 50 basis point improvement year-on-year, and ahead of consensus expectations.
Regionally, growth is expected to be led by Asia-Pacific and Latin America, with North America still in slight decline.
Oral health, where Haleon brands include Sensodyne and Corsodyl, remains the star performer among product lines, while therapeutic skin health is seen softening after last year's Eroxon launch.
For 2026, Haleon is likely to reaffirm medium-term targets of 4-6% sales growth and high single-digit profit growth, supported by further cost efficiencies.