GlaxoSmithKline FY20 Adj. Operating Profit Up 2% At CER On Turnover Increase Of 3%

(RTTNews) - GlaxoSmithKline (GSK.L, GSK) reported that its fiscal 2020 profit to shareholders increased to 5.75 billion pounds from 4.65 billion pounds, previous year. Earnings per share was 114.1 pence, compared to 92.6 pence. Adjusted operating profit was 8.91 billion pounds, 1% lower than 2019 at AER and 2% higher at CER on a turnover increase of 3% CER. Adjusted earnings per share was 115.9 pence compared to 123.9 pence, prior year, down 6% AER, 4% CER, on a 2% CER increase in adjusted operating profit.

Group turnover was 34.10 billion pounds, up 1% AER, 3% CER but down 2% CER on a pro-forma basis. On a pro-forma basis, Group turnover was down 2% CER, but up 1% at CER excluding the impact of divestments in Vaccines and brands divested or under review in Consumer Healthcare. Pharmaceuticals turnover was 17.06 billion pounds, down 3% AER, 1% CER.

For 2021, GlaxoSmithKline expects Vaccines revenue to grow flat to low-single digits. The company projects a decline of mid to high-single digit percent adjusted EPS at CER. The company's 2022 outlook remains unchanged.

"Progress against our strategic goals remains firmly on track. We are in a strong position to launch new competitive, standalone Biopharma and Consumer healthcare companies in 2022," said Emma Walmsley, CEO, GSK.