GSK publish 2011 core operating profit by segment

RNS Number : 1806G

GlaxoSmithKline PLC

26 June 2012

 



Issued:  26 June 2012, London, U.K. GSK publishes 2011 core operating profit by segment

On 28 March 2012, GSK issued historical quarterly restatements for 2011 that included reclassifications of turnover consistent with the way in which the turnover is reported internally together with reconciliations of total results to the Group's core earnings on a quarterly basis for 2011. GSK intends to report core operating profit by segment in future quarters, and, as indicated in the Q1 2012 Results Announcement, this release provides the quarterly 2011 core operating profit for each segment in order to assist comparability with historical data.  Turnover by segment is also presented here for convenience.  This quarterly information has been prepared on a basis consistent with the restatements published on 28 March 2012.

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This Announcement does not constitute statutory accounts of the Group within the meaning of sections 434(3) and 435(3) of the Companies Act 2006.  The information for 2011 has been derived from the full Group accounts published in the Annual Report 2011. Cautionary statement regarding forward-looking statements Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected.  Factors that may affect GSK' s operations are described under 'Risk factors' in the 'Financial review & risk' section in the company's Annual Report 2011 included as exhibit 15.2 to the company's Annual Report on Form 20-F for 2011.
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Core operating profit by segment (unaudited)

	Quarter 1  2011  £m	Quarter 2  2011  £m	Quarter 3  2011  £m	Quarter 4  2011  £m	Full Year  2011  £m
	------	------	------	------	------
USA	1,043	1,107	1,260	1,236	4,646
Europe	788	809	769	788	3,154
EMAP	335	368	355	423	1,481
Japan	310	256	360	323	1,249
ViiV Healthcare	203	215	255	209	882
Pharmaceuticals R&D	(662)	(680)	(696)	(763)	(2,801)
Other trading and unallocated   pharmaceuticals and vaccines	(44)	77	(135)	(170)	(272)
	------	------	------	------	------
Pharmaceuticals and Vaccines	1,973	2,152	2,168	2,046	8,339
Consumer Healthcare	245	244	327	268	1,084
	------	------	------	------	------
Segment profit	2,218	2,396	2,495	2,314	9,423
Corporate and other unallocated costs	(174)	(229)	(167)	(50)	(620)
	------	------	------	------	------
Core operating profit	2,044	2,167	2,328	2,264	8,803
Non-core items	(9)	(389)	(213)	(385)	(996)
	------	------	------	------	------
Total operating profit	2,035	1,778	2,115	1,879	7,807
	------	------	------	------	------

Turnover by segment (unaudited)

		Quarter 1  2011  £m	Quarter 2  2011  £m	Quarter 3  2011  £m	Quarter 4  2011  £m	Full Year  2011  £m
		------	------	------	------	------
USA		1,616	1,705	1,889	1,812	7,022
Europe		1,417	1,458	1,395	1,430	5,700
EMAP*		1,050	1,115	1,131	1,163	4,459
Japan		506	427	587	562	2,082
ViiV Healthcare		353	379	435	402	1,569
Other trading and unallocated   pharmaceuticals and vaccines*		301	337	320	322	1,280
		------	------	------	------	------
Pharmaceuticals and Vaccines		5,243	5,421	5,757	5,691	22,112
Consumer Healthcare		1,342	1,299	1,347	1,287	5,275
		------	------	------	------	------
Total		6,585	6,720	7,104	6,978	27,387
		------	------	------	------	------
*	The information on turnover by segment is consistent with the information presented on 28 March 2012 with the exception of £9 million of Relenza sales in Q2 2011 that have been reclassified from the EMAP segment to the Other trading and unallocated pharmaceuticals and vaccines segment.

 

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