GSK sees 4th-qtr profits fall, forecasts 2008 EPS decline

GlaxoSmithKline, the world's second largest drugmaker by sales, gave a negative guidance for the upcoming year, as it presented its fourth-quarter and full-year 2007 figures.

For the quarter, sales were virtually unchanged at L5.97 billion ($11.8 billion), with operating profit at L1.59 billion, down 7% at constant exchange rates and actual terms, and earnings per share similarly lower at 19.6 pence.

For the full year, turnover dipped 2% (+2% at CER) to L22.72 billion, while operating profit was down 3% to L7.59 billion (up 3% at CER).