Haleon sees high single-digit growth for annual organic operating profit

The company logo for Haleon and the trading info is displayed on a screen on the floor of the NYSE in New York

(Reuters) -Consumer healthcare company Haleon on Thursday forecast high single-digit growth in organic operating profit in 2024, after reporting a 4% rise in half-year pre-tax earnings amid strong demand for its oral care products and vitamins.

Shares in Haleon jumped about 2% in early trading.

Haleon, the maker of popular household products such as Sensodyne toothpaste, Panadol painkillers and Eno antacids, in May estimated its annual organic operating profit growth to be higher than its revenue forecast of between 4% and 6%.

Analysts, on average, expect full-year profit growth of 7.8%, according to a company-compiled poll.

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Haleon has been banking on the strength of its businesses in oral health, vitamins, minerals and supplements in 2024 at a time some major U.S. retailers adjust inventory levels, and as a milder flu season affected demand for some cold and flu medication.

Haleon said half-year organic revenue grew 5.6% in its "power brands", with toothpaste products Sensodyne and Parodontax along with multi-vitamin product Centrum achieving double-digit growth.

The company said its adjusted pre-tax profit for the six-month period ended June 30 was 1.13 billion pounds, almost in line with market expectations of 1.14 billion pounds.

It said the net impact of various disposals would dilute annual revenue and adjusted operating profit by about 1.5% and about 4%, respectively.

Haleon in June said it will sell its nicotine replacement therapy business outside the U.S. to a unit of India's Dr. Reddy's for 500 million pounds

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips and Jane Merriman)