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GSK grows full year revenue by 12.8%, profit by N299m; proposes N0.55 dividend

Leading drug-maker, GlaxoSmithKline Consumer Nigeria Plc recorded a 12.8% uptrend in its gross earnings for full year 2019, its annual report and financial statements, published  by the Nigerian Stock Exchange (NSE) on Monday, said.

Revenue advanced by N2.349 billion in the year under review, leaping from N18.411 billion to N20.760 billion.

Profit Before Tax inched up by 0.79% to N1.169 billion from N1.160 billion in the corresponding period of 2018.

GSK’s Profit After Tax enlarged from N617.624 million to N917.105 million, equivalent to 48.5% growth.

Earnings Per Share (EPS) climbed up by 48.1% from N0.52 to N0.77.

Total Equity grew from N8.833 billion N9.153 billion. Reuters put the healthcare company’s last Return On Equity at 8.13.

Its Price to Earnings ratio is currently 14.01.

READ ALSO: GSK, Caverton, BUA Cement, Nascon top Ripples Nigeria stock watchlist

Meanwhile, the board of directors of GSK has announced a dividend proposal of N0.55 per share for every common stock held by shareholders up till 22nd June.

The register of shareholders will be closed from 23rd June to 2nd July ahead of dividend payment slated for 24th July.

Majority-owned by Setfirst Limited (27.31% holding), Smithkline Beecham Limited (19.11%) and Stanbic Nominees Limited (13.49%), GSK was incorporated in Nigeria on 23rd June 1971 as subsidiary of London-based Beecham Limited, today known as Glaxosmithkline Plc, a formidable multinational with presence in 150 countries.

GSK closed trade on the floor of the NSE Friday at N7.15 per share.

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