GSK's third quarter results shows sales hit by China investigation

UK pharma major GlaxoSmithKline (LSE: GSK) has released its third quarter results with sales hit hard by the investigation into the company’s activities in China. However, overall sales were up £2,111 million ($3,416 million) in Q3 up from £2,089 million in the same period last year.

Earnings per share

Earnings per share were 20p, down from 22.6p in the same quarter last year. GSK delivered Q3 core EPS of 28.9p (+16% CER) and a dividend of 19p (+6%). The company said Pharmaceuticals and Vaccines turnover was flat. Pharmaceuticals turnover declined 1%, as lower sales in the USA, EMAP and ViiV Healthcare were partly offset by growth in Europe and Japan. Vaccines turnover grew 3%, as strong performances in the USA and Europe were partially offset by lower reported sales in EMAP and Japan. Pharmaceuticals and vaccines profit was £1,768 million showing 3% growth and £5,646 million in the first nine months of 2013.