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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Haleon key facts
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