financetom
Business
financetom
/
Business
/
GSK raises full-year profit forecast, says first-half will see stronger sales
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GSK raises full-year profit forecast, says first-half will see stronger sales
Apr 30, 2024 11:36 PM

(Reuters) -GSK raised its full-year profit forecast on Wednesday and said its sales would be higher in the first six months of the year than the second half on the back of strong demand for its common respiratory virus and shingles vaccines.

The London-listed drugmaker said it now expects a rise of 8% to 10% in annual adjusted earnings per share, up from the 6%-9% growth previously forecast. It also expects its 2024 sales to rise in the upper end of its 5% to 7% forecast range.

CEO Emma Walmsley's strategy has been centred around sharpening GSK's focus on vaccines and infectious diseases, and shifting its HIV focus to long-acting treatment and prevention therapies. The strategy has paid off as the company gears up for 12 new launches from 2025.

The British drugmaker reported a profit of 43.1 pence per share on sales of 7.36 billion pounds ($9.18 billion) for the first quarter, above analysts' average expectations of a 37.3 pence profit on sales of 7.07 billion pounds, according to a company-compiled consensus.

($1 = 0.8020 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Group 1 Automotive Q3 Adjusted Earnings Fall, Revenue Rises
Group 1 Automotive Q3 Adjusted Earnings Fall, Revenue Rises
Nov 3, 2024
05:20 AM EDT, 10/30/2024 (MT Newswires) -- Group 1 Automotive ( GPI ) reported Q3 adjusted earnings from continuing operations Wednesday of $9.90 per diluted share, down from $12.07 a year earlier. Analysts polled by Capital IQ expected $9.87. Revenue for the quarter ended Sept. 30 was $5.22 billion, up from $4.71 billion a year earlier. Analysts polled by Capital...
Commerzbank on Overnight News
Commerzbank on Overnight News
Nov 3, 2024
05:57 AM EDT, 10/30/2024 (MT Newswires) -- Commerzbank in its European Sunrise note of Wednesday highlighted: Markets: United States Treasuries rally into New York close, sideways in Asia. E-minis reverse gains with weaker Asian equities, Japan stocks gain. The US dollar trades stronger, Gold reaches an all-time high, Brent crawls up to $71.6/barrel. US: Republican presidential candidate Donald Trump says...
Stellantis to recall over 33,000 Ram trucks, NHTSA says
Stellantis to recall over 33,000 Ram trucks, NHTSA says
Nov 3, 2024
(Reuters) - Chrysler parent Stellantis ( STLA ) will recall about 33,777 Ram 1500 pickup trucks in the U.S., over a concern related to the electronic stability control system, the National Highway Traffic Safety Administration said on Wednesday. The front wheel hub encoder rings may be damaged, which can disable the electronic stability control system, the NHTSA said. Dealers will...
VW faces strikes over 'Pandora's box' of plant closures as profits plunge
VW faces strikes over 'Pandora's box' of plant closures as profits plunge
Nov 3, 2024
* Workers and management start second round of talks * Volkswagen could shut plants for first time in Germany * Q3 profit drops 42%, lowest in three years * Hit by high costs, weak demand in China and Europe By Christina Amann and Andrey Sychev WOLFSBURG, Germany, Oct 30 (Reuters) - Workers at Volkswagen threatened strikes on Wednesday unless management...
Copyright 2023-2026 - www.financetom.com All Rights Reserved