Haleon dives after posting first full-year results since spin-off from drugs giant GSK 

Haleon fell 4% after analysts warned ‘technical factors’ would trigger downgrades for its 2023 forecasts

Haleon shares dived yesterday after posting its first set of full-year results since its spin-off from drugs giant GSK.

Shares in the FTSE 100 firm fell 4 per cent, or 13p, to 313.6p after analysts at Jefferies warned ‘technical factors’ would trigger downgrades for its 2023 forecasts.

The results had been keenly awaited by the City following Haleon’s demerger from pharmaceutical giant GSK in July. Haleon owns brands such as Sensodyne toothpaste and Panadol paracetamol. For 2023, it said its profit margin would be ‘broadly flat’, but revenue would rise 4-6 per cent.

In 2022 revenues were up 14 per cent to £10.9billion. Profit swelled 14 per cent to £2.5billion, helped by booming sales of cold and flu products.

Unlike some other consumer titans, Haleon’s revenues were lifted by volume sales and price increases, with 4.3 per cent price rises offsetting the impact of inflation.

It said consumers stuck with big brands for healthcare after the easing of lockdown restrictions triggered more colds and flu.