GLAXOSMITH topped its previous performances, delivering a Q-o-Q and Y-o-Y revenue growth of 20.21% and 13.90% respectively. Revenue from the pharmaceutical division came in strong, posting a growth of 20.88% on the back of increased product demand and its premium branding strategy. Over-The-Counter revenue, however, remained flat, settling at NGN4.85bn. The company was able to optimize costs, as the cost of sales increased by 10.75%, owing to the rise in pharmaceutical costs (+15.55%). In the same vein, selling and distribution costs accelerated by 9.64% to settle at NGN2.58bn while administrative expenses contracted by 6.76% to NGN1.19bn. Consequently, operating and net margin improved to 20.88% and 2.68% respectively. Kindly find attached the report.
Earnings Update- GLAXOSMITH- 9M: 2019
GLAXOSMITH topped its previous performances, delivering a Q-o-Q and Y-o-Y revenue growth of 20.21% and 13.90% respectively. Revenue from the pharmaceutical division came in strong, posting a growth of 20.88% on the back of increased product demand and its premium branding strategy. Over-The-Counter revenue, however, remained flat, settling at NGN4.85bn. The company was able to optimize costs, as the cost of sales increased by 10.75%, owing to the rise in pharmaceutical costs (+15.55%). In the same vein, selling and distribution costs accelerated by 9.64% to settle at NGN2.58bn while administrative expenses contracted by 6.76% to NGN1.19bn. Consequently, operating and net margin improved to 20.88% and 2.68% respectively. Kindly find attached the report.