GSK PLC

Latest Results (23.05.2024):

Revenue Growth

In the first quarter of 2024, GSK PLC reported a significant increase in revenue, achieving a total sales figure of £7.4 billion. This represents a 10% growth at actual exchange rates (AER) and a 13% growth at constant exchange rates (CER), excluding contributions from COVID-19 solutions. The strong performance was particularly notable in the Vaccines and Specialty Medicines segments.

Profitability Enhancement

GSK PLC's core operating profit for Q1 2024 saw a robust increase of 27% at CER, which further reflects an 8% positive impact excluding COVID-19 solutions. This improvement in profitability was supported by strong sales performance and effective cost management, despite increased investments in research and development (R&D) and a slight decline in royalty income.

Dividend Announcement

Reflecting confidence in its financial health and commitment to shareholder returns, GSK PLC declared a dividend of 15p per share for the first quarter of 2024. The company anticipates maintaining a stable dividend payout, projecting a total of 60p per share for the full year 2024.

Research and Development Progress

GSK PLC continues to advance its pharmaceutical pipeline with several significant R&D achievements in Q1 2024. Noteworthy developments include positive phase III results for multiple drugs, including treatments for HIV, cancer, and infectious diseases. These advancements underscore GSK's ongoing commitment to addressing critical health challenges through innovative therapies.

Financial Outlook for 2024

Based on the strong performance in the first quarter, GSK PLC has updated its financial guidance for 2024. The company now expects turnover growth to reach the upper end of the 5% to 7% range and core operating profit growth between 9% and 11%. This optimistic outlook is supported by robust sales growth across all key business areas and continued operational efficiencies.