GlaxoSmithKline Declares N3.62 Billion Loss in H1 2016

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gskDrugmaker, GlaxoSmithKline Consumer Nigeria Plc said on Friday it has recorded a loss before tax of  N3.62 billion for the period ended June 30, 2016 compared to N424.82 million declared a year earlier.

Similarly, the drug producer recorded a loss after tax of N3.70 billion compared to N297.37 million posted the same period of 2015.

In the same vein, revenue of GlaxoSmithKline dropped from N15.44 billion in the H1 period of 2015 to N13.96 billion in the review period of 2016, showing a decline of 9.57 percent, the company said in a filing with the Nigerian Stock Exchange (NSE).

Shares of GlaxoSmithKline at the close of the session on the domestic bourse declined 4.99 percent to N18.45 from N19.42 traded the previous session; losing 0.97 kobo per share.

Click here to download GlaxoSmithKline Consumer Nigeria Plc Consolidated & Separate Financial Statements for the Period Ended June 30, 2016