(Alliance News) - Haleon PLC on Thursday reported a rise in quarterly revenue, but suffered a profit dip due to "standalone costs and adverse foreign exchange rates".

Haleon is a Weybridge, Surrey-based consumer healthcare products company that spun off from pharmaceutical company GSK PLC in July 2022.

For the third quarter of 2022, the FTSE-100 Sensodyne and Panadol owner reported revenue growth of 16% year-on-year to GPB2.89 billion from GBP2.49 billion.

Pretax profit, however, slipped by 2.4% to GBP495 million from GBP507 million. Haleon blamed the dip on standalone costs and adverse foreign exchange rates, specifically related to the Swiss franc and US dollar strength.

Chief Executive Officer Brian McNamara said: "Haleon delivered another strong quarter of growth in Q3 with 8% organic revenue growth and double digit growth for the nine months, with increased pricing through the year and continued positive volume/mix."

Looking ahead, the GSK spin-off said it expects its adjusted operating margin to be "slightly above last year at actual exchange rates". Last year, the adjusted operating margin was 22.8%.

Haleon said it also now expects organic revenue growth for the full-year to be between 8.0% and 8.5%. It had previously guided for growth between 6% and 8%.

In September, Haleon said revenue grew 13% to GBP5.19 billion for the six months that ended on June 30 from GBP4.58 billion a year ago. Pretax profit was GBP864 million, up 17% from GBP736 million.

Shares were down 0.9% at 283.55 pence each on Thursday morning in London.

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