Haleon PLC (LSE:HLN, NYSE:HLN), the spin-out from GSK PLC (LSE:GSK, NYSE:GSK) in which American giant Pfizer also has a significant stake, on Wednesday emulated its erstwhile parent by raising its revenue guidance.
The consumer healthcare group, which listed in London and New York last week with a value of around £30bn, said it expects the top line to grow by between 6% and 8% this year, an increase to the range of two percentage points.
The update was provided in a half-year trading statement, which recorded a 13.4% increase in sales to £5.2bn.
The group, which sells medicine cabinet staples such as Advil and Panadol and toothpaste under Sensodyne and Aquafresh brands, also cautioned that increased cost and the impact of the Ukraine-Russia conflict would likely have a modest impact on operating margins going forward.
That said, newly-installed chief executive Brian McNamara, was largely upbeat on the company’s prospects.
“With two strong quarters delivered and continued momentum into the second half, we now expect to deliver full-year organic revenue growth ahead of our medium-term guidance range,” he told investors.
“We continue to invest to drive sustainable growth and remain confident in delivering on our medium-term guidance."