Investors are laser-focused on the top line when it comes to the largest consumer goods companies. It’s partly an acknowledgement of the challenges that stem from trying to push forward sales in mature and saturated markets.
Haleon, therefore, might feel irked that a boost to its full-year sales forecast, from close to 6 per cent to between 7 per cent and 8 per cent, scored zero credit with the market, indeed even leading to a 2 per cent fall in the shares.
Investors also want to see how companies such as the former consumer health division of GSK can translate sales into operating leverage and create a bigger impact on the bottom line. Haleon hasn’t helped itself with opaque profit guidance. The company behind
