(Reuters) – British consumer healthcare giant Hareon said on Thursday organic revenue growth would slow in the first quarter, citing a tepid cold and flu season and weaker demand in China. It showed the outlook.
Despite rising prices, Haleon's product line has largely kept cheaper private-label competition at bay, but cost-of-living pressures and competition among painkiller brands have allowed rivals to catch up.
Demand in China has slowed after a strong recovery last year after COVID-19. The trend is echoed by U.S. rival Kenview, which earlier this month predicted full-year profit would be lower than analysts expected.
In the first quarter of 2023, Haleon's organic revenue increased 9.9%, with sales of respiratory health products increasing 33% during cold and flu season.
The company predicted that overall sales growth for the first quarter of this year would be just under 4%.
The world's largest independent consumer healthcare company releases its first full-year results since being spun off from GSK in 2022, with organic revenue expected to increase 4% to 6% in 2024, with adjusted operating profit expected to range between He said it would exceed. .
Analysts on average expect organic revenue to rise 4.5% and adjusted operating profit to rise 7.1%, according to a consensus compiled by the company.
“We expect the operating environment to remain challenging in 2024, but we are well positioned to achieve our 2024 and medium-term outlook,” CEO Brian McNamara said in a statement. I am confident.”
(Reporting by Eva Matthews in Bengaluru; Editing by Subranche Sahu and Tom Hogue)
