GlaxoSmithKline Q1 2012 Earnings at N 6 billion, up 28.7% YoY
Pharmaceutical company, Glaxosmith has reported its Q1 earnings for the period ended March 31st, 2012. The company made N 6.3 billion over the 3 months period in contrast to the N 4.9 billion it made over Q1, 2011.
Increased production costs (+43%) and marketing expenses (+25%) led to a drop in Profit before tax.
The company reported profit before tax at N 784 million, down 11% from the N 883 million it made over the similar period last year.
Net income arrived at N 544 million, down 10% from N 610 million it recorded in Q1, 2011.
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