GlaxoSmithKline Consumer Healthcare Q1 '07 PAT up by 22.8%, Gurgaon, Apr 27, 2007
27 April 2007
GlaxoSmithKline Consumer Healthcare Q1 Sales soar 17.80 %, Profits up by 22.80 %
Focus will be on profitable top-line growth in 2007
Gurgaon, April 27, 2007: GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for quarter ended March 31, 2007 .
"The momentum for top-line growth has continued in 2007 with an impressive sales growth in the first quarter", said Zubair Ahmed, Managing Director, GlaxoSmithKline Consumer Healthcare Ltd. "In 2007, our single-minded focus will be on profitable top-line growth. We expect such growth to be fuelled by our current brands Horlicks & Boost behind which we will continue to invest aggressively. This coupled with our focus on new product innovations will help grow the market. I'm pleased to share with you that we now also have in place a programme of targeted acquisitions in India , with a focus on nutritional brands, technologies or businesses that pose a strategic fit along with long-term growth potential.
Mr. Ahmed went on to add that while unprecedented rise in input costs continues to be an area of concern for the industry, savings arising out of a well executed in-house cost containment programme have led to a healthy bottom-line growth for GSKCH in the first quarter.
Compared with same period last year, the company's sales shot up by 17.80 % to Rs. 356.20 Crores, PBT amounted to Rs. 64.40 Crores, representing a growth of 19.2 % while PAT stood at Rs. 42.30 Crores; a healthy growth of 22.80 ____________________________________________________________________________
About GlaxoSmithKline Consumer Healthcare Ltd.
GSKCH is an associate of GlaxoSmithKline plc. of the U.K, a global 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 the largest player 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 product, Horlicks, is a widely regarded and highly respected brand for over 100 years. The Company also manufactures and markets Boost, Viva and Maltova and in addition markets and distributes a number of products in diverse categories, which include prominent household names such as Eno, Crocin and Iodex.
For more information, please contact:
Head of Communications, GlaxoSmithKline Consumer Healthcare