- Wednesday, October 16, 2024
GSK PLC, the British pharmaceutical giant, has raised its full-year guidance following a highly successful second quarter. The company reported a net profit of 1.62 billion pounds ($2.09 billion) from continuing operations, surpassing market expectations.
The impressive performance was attributed to GSK's strong sales in HIV and vaccines, as well as the continued growth of its research and development pipeline and product portfolio.
During the second quarter, GSK's turnover reached GBP7.18 billion, exceeding analysts' predictions of GBP6.77 billion. Adjusted operating profit for the period was GBP2.17 billion, compared to GBP2.01 billion in the previous year. Adjusted earnings per share from continuing operations also saw a notable increase, rising from 34.7 pence to 40.1 pence.
Looking forward, GSK anticipates a turnover increase of 8% to 10% for the year ahead, surpassing previous guidance of 6% to 8%. Additionally, the company projects an increase in adjusted operating profit of 11% to 13%, up from the previous range of 10% to 12%. Adjusted earnings per share are expected to rise between 14% and 17%, surpassing previously stated guidance of 12% to 15%.
To demonstrate its commitment to shareholders, GSK has declared a second-quarter dividend of 14 pence per share and anticipates a full-year dividend payment of 56.5 pence.
Overall, GSK's outstanding financial results and positive outlook highlight the company's dedication to innovation and growth in the pharmaceutical industry.
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