2014 H1: GSK Post Disappointing 40% Drop In Pre-Tax Profits

GSK Plc released its 2014 H1 results declaring a revenue of N15.6billion and a 12% increase from the N13.9billion posted a year earlier. Pre-tax profits however dropped by a whopping 40% to N1.2billion (2013 H1: N2billion).  High and increasing expenses in both cost of sale and operating costs was the major reason for this huge drop. Cost of sale and operating expenses rose 24% and 16% respectively.

See results below.

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