GlaxoSmithKline Consumer Healthcare year-to-date Sales up by 7.1%, Profits Before Tax up by 11%, Gurgaon, October 25, 2004
25 October 2004
GlaxoSmithKline Consumer Healthcare year-to-date Sales up by 7.1%, Profits Before Tax up by 11%
Gurgaon, October 25, 2004
GlaxoSmithKline Consumer Healthcare Limited (GSKCH), a global nutritional healthcare company present in India since 1958, today declared its financial results for the three months ended September 30, 2004. The Company's gross sales increased by 1.9 % and Profit before tax rose 46 % for the third quarter of '04. For the nine months ended Sept 30 2004, sales increased by 7.1% and profit before tax increased by 11 %.
The company has launched several new products in this quarter, including Horlicks and Boost in ready-to-drink format. Most recently, new variants of Mothers Horlicks and Junior Horlicks have been introduced in South India. "We are extremely encouraged by the overall reaction to these new launches. The FMCG market is tough but the good news is that our strong cost saving program is working for the company and helping us fund the investment required to grow the topline", said Nick Massey, Managing Director, GlaxoSmithKline Consumer Healthcare. "We will continue to maximise sales through product innovation, driving out-of-home opportunities and expanding the product range to meet changing consumer needs."
GSK Consumer Healthcare also declared a second interim dividend of 37 %.
While Profit Before Tax stood at Rs. 36.42 crore (against Rs. 24.94 crore in Q3 2003), Profit After Taxation was Rs. 22.58 crore (against Rs. 16.45 crore in Q3 2003) representing an increase of 46.0 % and 37.3 % respectively.
About GlaxoSmithKline Consumer Healthcare Ltd.
GlaxoSmithKline Consumer Healthcare Ltd., which was established in 1958, is an associate of GlaxoSmithKline plc. of the U.K, a global pharmaceutical and science based healthcare company. GSKCH has continually benefited from the technical and marketing inputs that have been available as a consequence of this association. GSKCH is one of the largest players in the health food drinks industry. The Company with its manufacturing plants located in Nabha, Rajahmundry and Sonepat has a total workforce of about 2700 people.
GSKCH has a strong marketing and distribution network in India comprising over 1800 wholesalers and direct coverage of over 4,50,000 retail outlets. Its flagship products, Horlicks and Boost are widely regarded and highly respected brands. The Company in addition markets and distributes a large number of products in diverse categories, which include prominent household names such as Eno, Crocin and Iodex.