GSK Q3 Pre-tax Profit Drops; Confirms 2024 Outlook - Quick Facts

(RTTNews) - GSK plc (GSK.L) reported that its third quarter profit before tax dropped to 64 million pounds from 1.79 billion pounds in the previous year.

Profit after tax for the quarter was 65 million pounds down from 1.53 billion pounds in the prior year, reflecting a charge of 1.8 billion pounds or $2.3 billion in relation to the Zantac settlement.

Loss attributable to shareholders for the third quarter was 58 million pounds or 1.4 pence per share compared to profit of 1.46 billion pounds or 35.6 pence per share in the same quarter last year.

Core earnings per basic share was 49.7 pence compared to 50.4 pence in the prior year.

Turnover for the third quarter declined to 8.01 billion pounds from 8.15 billion pounds in the prior year.

GSK has declared a dividend for the third quarter 2024 of 15 pence per share and expects to declare a dividend of 60 pence per share for the full year 2024.

GSK confirmed its full-year 2024 sales, core profit and earnings guidance at constant exchange rates (CER) and expects to deliver broadly around the middle of the existing ranges. All guidance, expectations and full-year growth rates exclude any contributions from COVID-19 solutions.

The company still expects annual core operating profit growth to be 11% to 13%, Core earnings per share growth of 10% to 12% and turnover growth of 7% to 9%.

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