GSK announces profit, dividend

GlaxoSmithKline Pakistan Limited’s net profit rose marginally to Rs1.06 billion for the year ended December 31, 2010.

GlaxoSmithKline Pakistan Limited’s, the largest pharmaceutical company in the country, (GSK) net profit rose marginally to Rs1.06 billion for the year ended December 31, 2010 compared with Rs1.04 billion in the preceding year.

At a meeting of the board of directors on Monday, the company announced a 40 per cent cash dividend of Rs4 per share, along with issuance of 15 per cent bonus shares for every 100 shares held, according to a communiqué sent to the Karachi Stock Exchange on Monday.

Net sales rose from Rs16.75 billion to Rs18.92 billion in 2009, while operating profit showed an 11.5 per cent increase, rising from Rs1.75 billion to Rs1.95 billion.

Published in The Express Tribune, March 8^th, 2011.