GSK forecasts smaller hit to FY profit after second quarter beat
Reuters
Published Jul 24, 2019 07:14AM ET
GSK forecasts smaller hit to FY profit after second quarter beat
(Reuters) - GlaxoSmithKline Plc (L:GSK) on Wednesday forecast a smaller-than estimated fall in full-year profit after the British drugmaker beat profit consensus for the second quarter due to demand for its fast-growing Shingles vaccine.
GSK now expects annual earnings for 2019 to decline between 3% and 5% versus a previous forecast of a 5% to 9% fall at constant currency.
Adjusted earnings were 30.5 pence per share in the second quarter. Analysts on average had expected earnings of 25.8 pence, according to a company-compiled consensus https://www.gsk.com/en-gb/investors/analyst-consensus/analyst-consensus of 10 analysts.
The company earlier on Wednesday appointed HSBC's (L:HSBA) Jonathan Symonds to succeed Philip Hampton as non-executive chairman, ending a six month search as the drugmaker prepares to split its businesses into two.
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Written By: Reuters
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