GlaxoSmithKline PLC, the British pharmaceutical company, announced a rise in net profit and revenue for the fourth quarter of 2021 on Wednesday. The company’s net profit for the fourth quarter was 749 million pounds ($1.01 billion), up from GBP677 million in the same time the previous year, on revenues that increased to GBP9.53 billion from GBP8.74 billion.
While revenues exceeded forecasts, net profit fell short of the company’s given estimate of GBP1.19 billion. Earnings per share increased from 13.6 pence to 14.7 pence, while modified earnings per share highly regarded statistic that excludes some one-time items—came in at 25.6 pence, exceeding consensus forecasts of 23.8 pence.
In keeping with prior announcements, the business announced a dividend of 23 pence for the fourth quarter and an additional payout of 80 pence for 2021.
Glaxo expects revenues to expand by 5% to 7% at constant currency rates in 2022. At constant exchange rates, adjusted operating profit is forecast to climb between 12% and 14% this year, including some expected benefit from the Gilead settlement in royalty revenue. Glaxo said it still expects its consumer healthcare division to be demerged in mid-2022.
