London, July 4, 2026, 18:03 BST
- Haleon plc LON:HLN gained 1.08% Friday to around 364p, outpacing the FTSE 100 Index (INDEXFTSE:UKX). Shares remain 12.45% under the Feb. 18 peak.
- The stock rose 4.59% this week and is up 13.42% for the month, though it’s still off 2.36% for the year.
- Haleon’s July 30 H1 statement will show if the growth that was limited to Oral Health in Q1 has started to broaden. Oral Health was up 8.3%. Respiratory Health dropped 3.4%.
- Haleon’s £500 million buyback and a five-year AI agreement with Microsoft Corp NASDAQ:MSFT put two non-sales signposts in front of investors ahead of the H1 results.
Haleon’s London listing gives the main price read this week. With U.S. markets closed Friday for Independence Day, London stayed open, and Haleon finished up 1.08% at £3.64 while the FTSE 100 gained 0.25%. Trading volume was 12.4 million shares, way below the 50-day average of 25.8 million.
Haleon gained 2.82% on Thursday and added another 1.08% Friday, putting the two-day rise at 3.93%. That beat the FTSE 100, which was up 1.67% Thursday and 0.25% Friday, for a compounded 1.92% increase. The move was stronger than the index, but not by a lot.
| Latest London sessions | Haleon LON:HLN | FTSE 100 (INDEXFTSE:UKX) |
|---|---|---|
| Thursday | up 2.82% | rose 1.67% |
| Friday | added 1.08% | gained 0.25% |
| Two-session move, calculated | up 3.93% | up 1.92% |
| Friday volume | 12.4 mln shares | n/a |
Haleon has had a stronger week, beating some big UK consumer and health stocks, but over the past year, the shares are still weighed down by old demand concerns. Hargreaves Lansdown data show Haleon is up versus Reckitt Benckiser Group (LON:RKT), GSK plc (LON:GSK) and Unilever plc (LON:ULVR) in the last week. But over the year, GSK has outperformed by a wide margin.
| Stock | 1 week | 1 month | 3 months | 1 year |
|---|---|---|---|---|
| Haleon LON:HLN | up 4.59% | gained 13.42% | down 2.31% | off 2.36% |
| Reckitt Benckiser (LON:RKT) | added 3.67% | up 14.21% | fell 1.46% | edged up 0.67% |
| GSK (LON:GSK) | rose 1.61% | advanced 8.83% | lost 6.02% | jumped 44.55% |
| Unilever (LON:ULVR) | up 0.42% | improved 12.14% | up 10.72% | down 8.50% |
Haleon shares have climbed faster than recent sales justify. Q1 organic revenue was up 2.2%, as price rose 2.4% but volume and mix slipped 0.2%. Most gains came from Oral Health. Pain Relief, Respiratory Health and Digestive Health all fell.
| Haleon Q1 2026 organic revenue growth | Change |
|---|---|
| Group total | +2.2% |
| Oral Health | +8.3% |
| VMS | +1.7% |
| Pain Relief | -0.3% |
| Respiratory Health | -3.4% |
| Digestive Health | -0.4% |
| Therapeutic Skin Health, Other | +3.0% |
“Haleon isn’t a million miles away from being a very good story, but it needs more than the toothpaste business to start performing,” Quilter analyst Chris Beckett told Reuters after the Q1 update. Reuters said North America got back to 1% organic growth in Q1, helped by toothpaste, after weak U.S. demand dragged on Haleon through 2025. Reuters
Management kept the targets where they were. In its June H1 aide-memoire, Haleon stuck to 2026 guidance for organic revenue growth of 3%-5% and high-single-digit operating profit growth at constant currency. The company also still sees net interest expense at about £255 million and an adjusted tax rate around 24.5%. CEO Brian McNamara said in April he expected Haleon’s growth “to accelerate across the balance of the year.”
| 2026 measure | Haleon guidance | Company-compiled consensus |
|---|---|---|
| Organic revenue growth | 3%-5% | 3.7% |
| Adjusted operating profit growth | High-single digit | 7.4% |
| Net interest expense | around £255 mln | £249 mln |
| Adjusted tax rate | about 24.5% | 24.5% |
The buyback stands out as clear support. Haleon set aside £500 million for buybacks through 2026 and kicked off an on-market programme in March. At Friday’s price of 364.3p, the whole buyback would cover about 137 million shares, or 1.6% of voting rights as of June 30. The most recent weekly buyback filing showed 6.99 million shares cancelled on June 22 and 23, bought at prices from 329.5p to 335.0p. That means Friday’s close was 8.7% above the top price Haleon paid in that update.
Technology is the other new focus, not sales. Haleon and Microsoft said June 29 they signed a five-year AI deal, with plans to use AI for consumer insight, supply chain, and commercial work. Claire Dickson, chief digital and tech officer at Haleon, said it’s about “simplifying how we work, unlocking more value from our data.” Darren Hardman, Microsoft’s UK and Ireland CEO, said Haleon is moving with “real pace and purpose.” No financial goal was in the release. Haleon Corporate
The near-term test is if the stock can stay above the late-June buyback range with no new earnings in play. Haleon’s calendar has H1 2026 results due July 30 and a Q3 trading update set for Oct. 29.
