GlaxoSmithKline (GSK) has reported a profit attributable to shareholders of £1.04bn, or 21.2 pence per diluted share, for the second quarter (Q2) of 2013 compared to £1.24bn, or 24.7 pence in 2012.
Cost of sales for the second quarter of 2013 was £1.97bn compared to £2.00bn for the same period a year ago, which was 27.5% of turnover compared with 26.3% in 2012. It benefited from a number of one-off items recorded in Q2 2012, including an element of the pension adjustment.
Profit attributable to shareholders for the first half (H1) of 2013 was £2.01bn, or 40.9pence per diluted share, compared to £2.55bn, or 50.6pence per diluted share, for the first half of 2012.
Cost of sales for the first six months of 2013 was £3.95bn compared to £3.82bn for the first six months of 2012, which was 28.0% of turnover compared with 26.1% in H1 2012. It benefited by 0.9% points due to the settlement in H1 2012 of a royalty agreement, the pension adjustment and the conclusion of the Vesicare agreement.
