Haleon: share price rises on 'solid' results
The British group announced this morning that it generated sales up 4.1% to 11.3 billion pounds last year, including organic growth of 8%.
In a reaction note, analysts at UBS point out that the owner of the Advil, Sensodyne, Voltaren and Polident brands recorded organic growth of 6.7% in the fourth quarter, against a consensus of 5%.
Above all, this better-than-expected performance can be attributed both to good volumes and mix (+0.3% vs. a consensus of -0.2%), and to prices (+6.4% vs. +5.5% expected)", notes the research firm.
For 2024, Haleon anticipates "another year of strong growth", with organic growth expected to be between 4% and 6%.
The company also plans to allocate £500 million to share buy-backs over the year.
Following these announcements, the share price climbed over 6% on the London Stock Exchange on Thursday morning, making it one of the biggest risers on the pan-European STOXX 600 index.
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