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Haleon: full-year revenue guidance cut, profit outlook remains healthy

Haleon lowered its full-year organic revenue guidance to around 3.5%, citing a weak U.S. consumer environment.
Haleon share research

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Prices delayed by at least 15 minutes

Haleon’s second half underlying revenue grew by 3.2% to £5.5bn (3.4% expected), with price increases contributing towards most of the growth.

Underlying operating profit for the first half was up 10% to £1.2bn, driven by strong pricing and efficiency gains without pulling back on brand investment.

Underlying free cash flow was up £184mn to £734mn. Net debt came in at £7.7bn.

The interim dividend was raised 10% to 2.2p per share. Over the period the group deployed around £370mn of its £500mn share buyback.

Full-year underlying revenue guidance has been downgraded from 4-6% range to around 3.5%. Underlying operating profit growth is expected to land in the high-single digits for the year.

The shares were down 4.4% in early trading.

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HL view to follow.

Haleon key facts

All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.

This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment.No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.Non - independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place(including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing.Please see our full non - independent research disclosure for more information.
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Written by
Derren Nathan
Derren Nathan
Head of Equity Research

Derren leads our Equity Research team with more than 15 years of experience in his field. Thriving in a passionate environment, Derren finds motivation in intellectual challenges and exploring diverse ideas within his writing.

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Article history
Published: 31st July 2025