Washington D.C. 20549
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Issued: 26 June 2012, London, U.K.
GSK publishes 2011 core operating profit by segment
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On 28 March 2012, GSK issued historical quarterly restatements for 2011 that included reclassifications of turnover consistent with the way in which the turnover is reported internally together with reconciliations of total results to the Group's core earnings on a quarterly basis for 2011.
GSK intends to report core operating profit by segment in future quarters, and, as indicated in the Q1 2012 Results Announcement, this release provides the quarterly 2011 core operating profit for each segment in order to assist comparability with historical data. Turnover by segment is also presented here for convenience. This quarterly information has been prepared on a basis consistent with the restatements published on 28 March 2012.
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GlaxoSmithKline
- one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit
www.gsk.com
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GlaxoSmithKline Enquiries:
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Sarah Spencer
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David Daley
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US Media enquiries:
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Kevin Colgan
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Analyst/Investor enquiries:
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Sally Ferguson
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This Announcement does not constitute statutory accounts of the Group within the meaning of sections 434(3) and 435(3) of the Companies Act 2006. The information for 2011 has been derived from the full Group accounts published in the Annual Report 2011.
Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk factors' in the 'Financial review & risk' section in the company's Annual Report 2011 included as exhibit 15.2 to the company's Annual Report on Form 20-F for 2011.
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Registered in England & Wales:
No. 3888792
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Registered Office:
980 Great West Road
Brentford, Middlesex
TW8 9GS
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Core operating profit by segment (unaudited)
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Quarter 1
2011
£m
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Quarter 2
2011
£m
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Quarter 3
2011
£m
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Quarter 4
2011
£m
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Full Year
2011
£m
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------
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------
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------
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------
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------
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USA
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1,043
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1,107
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1,260
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1,236
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4,646
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Europe
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788
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809
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769
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788
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3,154
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EMAP
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335
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368
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355
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423
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1,481
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Japan
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310
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256
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360
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323
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1,249
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ViiV Healthcare
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203
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215
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255
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209
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882
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Pharmaceuticals R&D
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(662)
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(680)
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(696)
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(763)
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(2,801)
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Other trading and unallocated
pharmaceuticals and vaccines
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(44)
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77
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(135)
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(170)
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(272)
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------
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------
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Pharmaceuticals and Vaccines
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1,973
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2,152
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2,168
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2,046
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8,339
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Consumer Healthcare
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245
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244
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327
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268
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1,084
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Segment profit
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2,218
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2,396
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2,495
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2,314
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9,423
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Corporate and other unallocated costs
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(174)
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(229)
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(167)
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(50)
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(620)
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------
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------
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------
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Core operating profit
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2,044
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2,167
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2,328
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2,264
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8,803
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Non-core items
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(9)
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(389)
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(213)
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(385)
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(996)
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Total operating profit
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2,035
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1,778
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2,115
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1,879
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7,807
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Turnover by segment (unaudited)
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Quarter 1
2011
£m
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Quarter 2
2011
£m
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Quarter 3
2011
£m
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Quarter 4
2011
£m
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Full Year
2011
£m
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------
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------
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------
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USA
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1,616
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1,705
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1,889
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1,812
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7,022
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Europe
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1,417
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1,458
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1,395
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1,430
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5,700
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EMAP*
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1,050
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1,115
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1,131
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1,163
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4,459
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Japan
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506
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427
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587
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562
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2,082
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ViiV Healthcare
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353
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379
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435
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402
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1,569
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Other trading and unallocated
pharmaceuticals and vaccines*
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301
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337
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320
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322
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1,280
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Pharmaceuticals and Vaccines
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5,243
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5,421
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5,757
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5,691
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22,112
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Consumer Healthcare
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1,342
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1,299
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1,347
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1,287
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5,275
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Total
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6,585
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6,720
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7,104
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6,978
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27,387
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*
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The information on turnover by segment is consistent with the information presented on 28 March 2012 with the exception of £9 million of
Relenza
sales in Q2 2011 that have been reclassified from the EMAP segment to the Other trading and unallocated pharmaceuticals and vaccines segment.
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