Pfizer announces its decision to drastically reduce its stake in Haleon from 32% to about 24%, instigating a significant sale of approximately $3.5 billion in shares. Despite this, Haleon remains resilient with revenue growth accelerating at the end of the previous year. The company demonstrates consistent profit growth in 2024, further bolstered by a global increase in demand for their consumer health products.
Other major shareholders, like GSK, have followed suit by selling their shares, raising billions in the process. However, this did not undermine investor confidence, as Haleon continued to attract institutional investors and its share price surged by 6% in the recent times.
Haleon's strong FY results have driven a share buyback scheme, further asserting Haleon's commitment to shareholder value. The move follows Haleon's decision to update a £10 billion EMTN prospectus and confirming a major share buyback. Further boosting its performance in the market, Haleon beat analyst estimates, signalling a positive consensus for the year ahead.Revenue pressures are being labelled as temporary setbacks, indicating an optimistic outlook.
Strategic business decisions like selling ChapStick to Suave Brands have also been announced. Haleon has also seen executive reshuffles and warmly welcomes a new CFO, Dawn Allen.
Haleon Stocks News Analytics from Wed, 02 Aug 2023 07:00:00 GMT to Tue, 07 May 2024 13:11:52 GMT - Rating 7 - Innovation 6 - Information 8 - Rumor -1
