GSK posts $42m profit
June 4, 2014
GLAXOSMITHKLINE (GSK) has
reported total profit before tax of
$42m for 2013 on sales of $1,414m.
The company’s report to
the Australian Securities and
Investment Commission showed
overall Australian group sales
had decreased compared with
the previous year, from $1,452m,
but profit before tax was up from
$41m.
Exports were down 1% to $515m
and investment in Research and
Development was down 5% to
$51m.
Pharmaceutical manufacturing
saw an increase in sales of about
17% as investments in previous
years began to deliver, GSK said.
The Consumer Healthcare division
saw a drop in commercial sales
of 4% and manufacturing sales of
20%, down from a total $355m in
the year prior.
It had experienced “significant
supply challenges” in 2013
but with renewed focus on
scientific discovery, new product
developments were being
expedited through the pipeline,
Consumer Healthcare Australia
general manager Vincent Cotard
said.
GSK’s opiates business continued
to perform strongly, with year on
year growth for the last three years,
it said.
The company recently said its
growing trials in Victoria had
positive results (PD 19 May).
GSK announced the closure of
its Stiefel skin science facility in
Rowville, Victoria, with 22 jobs lost,
at the end of May (PD 26 May).
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