GSK Q4 Profit Climbs, Sees Growth In FY23; Says Confident Of FY26 View

(RTTNews) - British drug maker GSK plc (GSK, GSK.L) reported Wednesday that its fourth-quarter profit before taxation surged to 1.63 billion pounds from last year's 303 million pounds. Earnings per share were 37.1 pence, 98 percent higher than 18.7 pence last year.

Total earnings per share from continuing operations was 37.2 pence, compared with 10.6 pence in 2021.

Adjusted earnings per share from continuing operations was 25.8 pence, while last year's earnings were 23.6 pence.

Turnover grew 4 percent to 7.38 billion pounds from prior year's 7.08 billion pounds in the prior year. Turnover, meanwhile, dropped 3 at constant currency rates.

Further, the Board has declared a fourth dividend for 2022 of 13.75p per share for the Share Consolidation.

The expected dividend for 2023 is 56.5p per new ordinary share, in line with the original expectation.

Looking ahead, GSK expects turnover and adjusted operating profit growth to be slightly lower in the first half of 2023, including a challenging comparator in the first quarter of last year.

The results will be somewhat higher in the second half, relative to full-year expectations.

For fiscal 2023, the company projects adjusted earnings per share to increase between 12 to 15 percent at CER, and adjusted operating profit to increase between 10 to 12 percent. Further, turnover is expected to grow between 6 to 8 percent from fiscal 2022 turnover of 29.32 billion pounds.

Emma Walmsley, Chief Executive Officer, GSK, said, "We enter 2023 with good momentum, underpinning confidence in our ambitious sales and profit outlooks for 2026. ... This momentum, together with further targeted business development, means GSK will also be in a strong position to deliver growth from 2026 onwards."

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