Plus   Neg

GlaxoSmithKline Q3 Profit Rises, Pro-forma Sales Up 6%; Raises Earnings Outlook

GlaxoSmithKline plc (GSK.L,GSK) reported that its third-quarter pretax profit improved to 1.95 billion pounds from 1.71 billion pounds, prior year. Earnings per share was 31.4 pence compared to 28.8 pence. Adjusted earnings per share was 38.6 pence, up 9 percent AER, 1 percent CER. Adjusted operating profit was at 2.79 billion pounds, up 10 percent AER, 3 percent CER.

Third-quarter Group turnover increased 16 percent AER, 11 percent CER to 9.39 billion pounds, with growth delivered by all three businesses, primarily driven by Vaccines and the acquired Pfizer consumer healthcare business to form the new Consumer Healthcare Joint Venture. Pro-forma turnover growth for the Group was 6 percent CER.

Pharmaceuticals turnover was at 4.53 billion pounds, up 7 percent AER, 3 percent CER. Vaccines turnover grew 20 percent AER, 15 percent CER to 2.31 billion pounds. Consumer Healthcare sales grew 30 percent AER, 25 percent CER to 2.53 billion pounds, primarily reflecting the acquired Pfizer legacy brands. On a pro-forma basis, turnover grew 3 percent CER, driven by strong performance in Oral health.

Emma Walmsley, CEO, GSK said: "This quarter we have continued to strengthen our pipeline and have advanced assets in Respiratory, HIV and, notably, Oncology, where we are on track to file three innovative medicines by year end, following positive pivotal trial data."

Looking forward, GSK now expects 2019 adjusted earnings per share will be around flat at CER revised from prior guidance of a decline of 3 percent to 5 percent. GSK expects to maintain the dividend for 2019 at the current level of 80 pence per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission (FTC) is in the process of sending out refund checks to consumers who were allegedly misled by Office Depot, Inc. and its software provider Support.com, Inc., into buying computer repair products and services. Out of $34 million, being the total amount of checks, Office Depot paid $25 million and Support.com paid $10 million as part of 2019 settlement. Gap Inc. partnered with fashion resale platform thredUP to facilitate the exchange of secondhand cloths. The retailer in a blog post said its customers can bring secondhand clothes in exchange for shopping credit that can be redeemed at Gap, Banana Republic, Athleta, or Janie and Jack. Customers who redeem their credits at Gap brands will receive an additional 15 percent payout bonus. Coca-Cola Co. (KO) on Friday reaffirmed its guidance for the full-year 2020 and provided an update on the expected impact from COVID-19 on first quarter 2020 results, ahead of its presentation at the Consumer Analyst Group of New York (CAGNY) Conference. For fiscal 2020, the company continues to project...
Follow RTT