Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Sensodyne-maker Haleon posts tepid sales as demand for some products cool off

Sensodyne-maker Haleon posts tepid sales as demand for some products cool off

(Reuters) -Consumer healthcare company Haleon reported first-quarter revenue slightly below market estimates on Wednesday, as volumes declined due to retailer destocking in U.S. and cooling demand for some of its medicines after a surge last year.

The maker of popular household products such as Sensodyne toothpaste and pain-reliever Panadol, had earlier said that the first three months of 2024 would be impacted by a softer cold and flu season and a slowdown in painkiller Advil’s sales in Canada, following a surge in demand last year.

Demand for medicines such as Contac and Fenbid, which benefited from pent-up demand in China last year after lockdown restrictions were lifted, have also cooled, impacting Haleon’s quarterly sales growth.

Revenues stood at 2.92 billion pounds ($3.64 billion) for the quarter ended March 31, slightly missing expectations of 2.93 billion pounds, according to a company-compiled consensus.

On a reported basis, revenue was down 2.2% on last year.

“The miss in volumes more than offsets a (played down) margin beat, outlook no change. We could expect the stock to be an under performer this AM,” Jefferies analysts said.

Shares in the FTSE 100 group fell 1.8% to 333.30 pence, to become one of the top losers on the blue-chip index. The stock has risen about 5% this year as of Tuesday’s close.

Haleon, whose name is inspired by the merging ‘Hale’, which is an old English word that means ‘in good health’, and Leon which is associated with the word ‘strength’.

It comprises assets from GSK and Pfizer and sells non-prescription drugs, vitamins and oral care products. It was spun-off from GSK in 2022.

Demand for its oral health products and multivitamins held steady during the reported quarter, and the company re-affirmed its full-year outlook outlined in February.

Adjusted operating profit grew 2.3% to 707 million pounds in the first quarter.

On Tuesday, the firm disclosed plans to shut its UK production site which makes Sensodyne toothpastes by 2026, saying it was not longer viable to manufacture its products there.

($1 = 0.8021 pounds)

(Reporting by Eva Mathews and Chandini Monnappa in Bengaluru; Editing by Rashmi Aich and Michael Perry)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts