Results announcement for the third quarter 2014
Issued: London UK
GSK announces Q3 core EPS of 27.9p +5% CER excluding divestments and dividend of 19 pence per share
- Group turnover £5.6 billion, -3% excluding divestments
- Targeted cost reductions and financial efficiencies help deliver Q3 core EPS of 27.9p +5% at CER and excluding divestments
- Continue to expect full year 2014 core EPS to be broadly similar to 2013 (at CER and on ex-divestment basis)
- Proposed 3-part transaction with Novartis on track for completion in H1 2015
- ViiV Healthcare: intention to explore an IPO of a minority shareholding to enhance future strategic flexibility and visibility within the Group
- New restructuring programme to refocus global pharmaceuticals business and cost base following divestment of oncology products and changed US respiratory market dynamics
- R&D pipeline expected to fuel growth of pharmaceuticals business with sustained flow of new products over next 5-10 years
- Q3 dividend maintained at 19p per share
- FY14 dividend expected to be 80p +3%. 2015 dividend expected to be maintained at same level as 2014 with additional planned return of £4 billion to shareholders via a B-share scheme post completion of transaction
Full details with CEO and CFO interviews available in the quarterly results section of this website.
GSK cautionary statement regarding forward-looking statements
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. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2013.