"Strong Underlying Growth" At SB In 1st Qtr
SmithKline Beecham's business in the first quarter of 1995 was influenced by the inclusion of sales from acquisitions made in 1994 and the continuing effect of the expiration of the US patent on Tagamet (cimetidine).
Sales for the quarter were L1.12 billion ($1.8 billion), up 14%, and sales from continuing operations grew 24% to L1.7 billion. Trading profit from continuing operations advanced 15% to L385 million. The company posted pretax profit up 2% to L360 million, excluding one-off items, and earnings per share grew 5% to 9.1 pence.
All three of SB's businesses were reported to have made significant gains in the quarter in both sales and trading profits, with strong underlying growth.
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