Haleon shares slump after weak cold and flu demand and China woes force the firm to cut its revenue targets

Haleon, the consumer health giant behind Panadol and Sensodyne, cut its full-year revenue growth target after unexpectedly weak demand for cold and flu products hit sales. The downgrade also reflects deepening difficulties in China, where the group has struggled to gain traction. Shares fell sharply on the news.

Haleon had previously guided for revenue growth at the top end of its target range before today's cut.

China woes compounded the flu-demand shortfall, making the combined pressure too large to absorb.