Haleon Expected to Report Strong Q4 Sales and Margin Growth Despite Weaker Cold Season

Haleon is expected to report solid margin growth despite a weaker cold and flu season. Q4 organic sales growth is forecast at 3.1%, below consensus estimates, but the company's full-year growth is still expected to be around 3.2%. The more significant development is a 50 basis point improvement in operating margin to 22.8%, ahead of consensus expectations. Growth is led by Asia-Pacific and Latin America, with North America in slight decline. Oral health is the star performer, while therapeutic skin health softens after last year's Eroxon launch.