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Turnover In GSK's Consumer Healthcare Division Up 5% In Q2

GlaxoSmithKline has posted a 5% growth in turnover in its consumer healthcare division, to £1.9 billion (€2.13 billion), in the second quarter of its financial year.

Operating profit in the division amounted to £391 million, up 11% year-on-year on an AER basis.

The turnover in the division's wellness, oral health, and nutrition segments grew by 5%, 6%, and 7% respectively, while the skin health category saw a 6% decline.

The division's wellness portfolio pushed sales in the US, generating a turnover of £475 million (+11%).

Turnover in Europe grew by 1% on an AER basis, while its other international markets saw a 4% growth with strong performances in India and South-East Asia.

The drugmaker's overall group turnover increased by 7% to £7.9 billion (€8.9 billion) during the quarter, driven by the increase in demand for its shingles vaccine.

Outlook

Commenting on the results, GSK chief executive, Emma Walmsley, said, "GSK delivered continued good operating performance in Q2 [...] We are increasing our expectations for the year and have updated our guidance for 2019."

She also said that GSK expects to complete its joint venture with Pfizer soon, which will lay the foundation for creating two great companies - one in pharmaceuticals and vaccines; and one in consumer healthcare.

Elsewhere, GlaxoSmithKline announced the appointment of HSBC's Jonathan Symonds as its new non-executive chairman.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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