Earnings Update – GLAXOSMITH | 2021FY & Q1:2022 GLAXOSMITH: First Quarter Performance Fuels Optimism

GLAXOSMITH ended its 2021FY financial period on a positive note as its topline surged moderately by 5.42%YoY to NGN22.45bn (from NGN21.30bn in 2020FY). The topline expansion was spearheaded by growth in the Consumer Healthcare segment (+16.63%YoY) while the Pharmaceuticals Segment grew by 0.77%YoY to NGN15.16bn (vs NGN15.05bn in 2020FY). Hence, revenue stood at NGN22.45bn in 2021FY compared to NGN21.30bn in the previous financial period. In the first quarter of 2022, the firm also recorded an impressive expansion in topline. We note that the revenue performance in the quarter represents its highest quarterly revenue in 24 quarters (since Q1:2016).

Earnings Update – GLAXOSMITH 2021FY & Q1-2022


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