Dow Jones Newswires: GSK posts higher sales and profit of $1.85 billion, lifted by specialty medicines and vaccines businesses

by | Feb 1, 2023 | Stock Market

GSK PLC on Wednesday posted rising earnings and sales for the fourth quarter, which the company said were boosted by its specialty medicines and vaccines businesses. The British pharma major

reported net profit of 1.50 billion pounds ($1.85 billion) in the fourth quarter, up from GBP749 million for the same quarter of 2021, on sales that grew to GBP7.33 billion from GBP7.08 billion.

Operating profit increased to GBP1.87 billion from GBP492 million in the fourth quarter of 2021, reflecting fair-value gains on investments, milestone income from disposals and lower remeasurement charges for contingent consideration liabilities, GSK said. After-tax profit also increased, rising to GBP1.62 billion from GBP930 million the previous year. Total earnings per share rose to 36.5 pence from 18.5 pence in 2021, and adjusted earnings per share increased to 25.8 pence from 23.6 pence, GSK said. For 2023, the company said it expects turnover to increase between 6% and 8%, while adjusted operating profit is seen increasing between 10% and 12%. Earnings per share are expected to rise between 12% and 15%, GSK said. The guidance excludes any contribution from Covid-19 solutions, the company said. Write to Cecilia Butini at [email protected]

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