(Reuters) – Haleon on Wednesday raised its forecast for annual organic revenue growth as the consumer healthcare company is confident that demand for its oral and respiratory health products will stick despite a cost-of-living squeeze.
Consumers prioritising money towards essential, daily-use products amid the cost-of-living crisis in some parts of the world boosted sales for companies such as Haleon, which spun off from British drugmaker GSK last year.
U.S.-based rival Kenvue, the former consumer health unit of Johnson & Johnson (NYSE:JNJ), forecast full-year profit above market estimates in July.
Haleon, the world’s largest standalone consumer healthcare firm, said its full-year organic revenue growth is now expected to come in at 7-8%, compared with an earlier forecast of the top-end of a 4-6% range. Analysts on average expect growth of 6.2%, according to company-compiled estimates.
Haleon’s organic revenue growth for the six-month period ended June 30 was 10.4%, beating analysts’ expectations of 8.2%.
