LONDON (Reuters) – Despite price increases, Haleon’s roster of consumer health products have largely kept cheaper private-label competition at bay, Haleon chief financial officer Tobias Hestler said on Wednesday.
“We’ve not seen negative reaction from consumers on the pricing,” he said. “We believe our products have a higher elasticity, I think probably has a lot to do with our brand portfolio being all therapeutic.”
Haleon, which sells non-prescription drugs, vitamins and oral care products, on Wednesday reported a fall in quarterly adjusted profit margin, mainly because of “cost inflation and incremental standalone costs”.
Like its consumer staples competitors, Haleon has been subject to cost inflation, which rose during the COVID-19 pandemic and was exacerbated by Russia’s invasion of Ukraine.
(Reporting by Natalie Grover in London; Editing by Louise Heavens)
