(CercleFinance.com) – The manufacturer of consumer health products Haleon reported on Thursday 2023 annual results considered solid, which caused its stock price to jump.
The British group announced this morning that it generated turnover up 4.1% to 11.3 billion pounds last year, including organic growth of 8%.
In a reaction note, UBS analysts point out that the owner of the Advil, Sensodyne, Voltaren and Polident brands recorded organic growth of 6.7% in the fourth quarter, against a consensus of 5%.
‘Above all, this better than expected performance is explained both by the good performance of volumes and the ‘mix’ (+0.3% against a consensus of -0.2%) and prices (+6.4% against +5.5% expected), notes the design office.
For 2024, Haleon says it anticipates a ‘new year of strong growth’, with organic growth expected between 4% and 6%.
The company also plans to allocate an amount of 500 million pounds to its share buybacks over the financial year.
Following these announcements, the stock climbed more than 6% on the London Stock Exchange on Thursday morning, which allowed it to post one of the largest increases in the pan-European STOXX 600 index.
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