Haleon, the consumer health business spun off from GSK last year, has posted first-quarter sales ahead of expectations, boosted by a strong cold and flu season.
In a brief AGM trading update, the company revealed that its total revenues in the three months to 31 March had risen 9.9% on an organic basis to £2.99bn, with price rises contributing 7.1% to the figure and volumes 2.8%.
Growth was seen across its Oral Health (+6.6%), Pain Relief (+11.0%), Digestive Health (+7.3%), and Respiratory Health (+33.0%) units. However, sales in the Vitamins, Minerals and Supplements division slipped 3.7% due to the strong comparatives for its Emergen-C brand in the US during the Omicron wave in the first quarter of 2022. It Centrum brand was up “high single-digit”.
On a geographical basis, Haleon reported double-digit growth in Europe, Middle East, Africa, Latin America (+13.3%) and the Asia Pacific (11.7%), and mid-single digit growth in North America (+5.1%).
Haleon noted that trading in China had benefitted from the removal of pandemic restrictions, as well as increased cases of Covid, colds and flu.
As a result of the good start to the year, the company said it now expected full-year 2023 organic revenue growth to be at the upper end of its 4% to 6% guidance range.
