Haleon Pakistan Reports Significant Earnings Growth Amid Strategic Portfolio Expansion

Karachi: Haleon Pakistan Limited (HALEON) has reported a considerable increase in earnings, achieving Rs3.2 billion for the first nine months of the calendar year 2024, marking a 5.1-fold year-on-year growth, This surge translates into an earnings per share (EPS) of Rs27.36. The company’s topline reached Rs28 billion, a 16% increase compared to the previous year, with improved gross margins now at 33%.

According to JS Global, the increase in Haleon’s sales was driven by a robust performance in its over-the-counter (OTC) portfolio, which grew by 18% year-on-year, as well as gains in the fast-moving consumer goods (FMCG) and tolling operations sectors. However, exports witnessed a decline of 27% year-on-year. The management indicated that the sales mix comprises 47% of the essential portfolio and 38% of non-essential products, with future growth expected in the non-essential segment due to new drug introductions.

Haleon’s product lineup includes well-known brands such as Panadol, Sensodyne, and Caltrate, with plans to expand its offerings. The company has launched new variants like Panadol Night and Ultra and is preparing to officially launch the Centrum multivitamin tablet in Pakistan, a product previously available through grey markets. The firm is also set to manufacture toothbrushes locally to replace imports and has secured an export license for Kenya, aiming to increase its export presence to 25 countries by the end of next year.

In terms of production, Haleon is undergoing a strategic shift with plans to move certain manufacturing operations between its plants in Jamshoro and Pharmatec, expected to conclude by the end of 2025. The management highlighted that Haleon holds a significant share of the Rs25 billion multivitamin market in Pakistan, primarily through the Cac-1000 brand. The company’s strategic initiatives underscore its commitment to expanding its market presence and adapting to changing consumer needs.

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