29 October 2026
If you are covering Haleon’s Q3 trading statement, please find a comment below from Chris Beckett, consumer staples analyst at Quilter Cheviot:
“This is a disappointing quarter for Haleon, with sales falling short of expectations and full-year growth guidance cut to around 2.5%. A weak cold and flu season has weighed on respiratory products, while the problems importing Centrum products into China have provided another unwelcome headwind. Europe has also been difficult, reflecting continued caution among consumers.
“There are still some real bright spots, particularly oral health, where Sensodyne continues to perform strongly, and importantly Haleon has maintained its profit expectations. With just one quarter of the year remaining, lowering the sales guidance is disappointing but realistic rather than a sign of a fundamental deterioration in the business.
“We remain positive on Haleon over the longer term. Healthcare systems around the world are under mounting cost pressure, which should support greater use of trusted over-the-counter medicines and make consumer healthcare one of the more attractive areas of the consumer sector. While this was undoubtedly a poor quarter, we still think the underlying category and Haleon’s portfolio of brands offer an attractive long-term growth story.”
