Results announcement for the first quarter 2016

Issued: London, UK

GSK delivers strong Q1 performance with sales of £6.2 billion (+8% CER), core EPS 19.8p (+8% CER); dividend of 19p

2016 core EPS percentage growth now expected to be 10-12% CER

View full Q1 2016 results (PDF)

Summary:

• Group sales £6.2 billion +8% CER on a reported basis, +6% CER pro-forma
  
  
• New product sales £821 million (Q4 2015: £682 million, Q1 2015: £269 million) driven by HIV (Tivicay, Triumeq), Respiratory (Relvar/Breo, Anoro, Incruse, Nucala) and Meningitis vaccines (Menveo, Bexsero)
       
• Sales momentum, cost control and restructuring/integration benefits driving improved operating leverage and margin delivery across all three businesses
             
• Q1 core EPS 19.8p, +8% CER
  
  
• Q1 total EPS 5.8p with year-on-year decline reflecting £9.3 billion profit from Oncology disposal and other disposal gains in Q1 2015
  
  
• 2016 core EPS percentage growth now expected to be 10-12% CER
  
  
• 19p dividend declared for Q1.  Continue to expect 80p for FY 2016 and FY 2017
  
  
• Development of new R&D pipeline continues with progress made in core therapy areas of Respiratory, HIV, Oncology, Immuno-inflammation and Rare diseases

 Full details available in the quarterly results section of this website.

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 2015.