Iain Simpson's questions to Haleon PLC (HLN) leadership • Q2 2024
Question
Iain Simpson sought to confirm the magnitude of the phenylephrine destocking impact on group volume and questioned the drivers for increased A&P spending in H2. He later asked about the translation of EBIT to EPS, inquiring about the outlook for finance costs, tax rate, and share count.
Answer
CFO Tobias Hestler confirmed the phenylephrine volume impact was a 0.5 point swing for the group. He detailed that lower H2 profit growth is due to lapping lower cost inflation, higher A&P and R&D spend, and other phasing effects. He also confirmed that net finance costs, tax rate, non-controlling interests, and share count are all trending favorably to support future EPS growth.