GlaxoSmithKline Consumer Healthcare records 21% growth for the year 2008 and profits up 16.0%, Gurgaon, Dec 31, 2008
31 December 2008
GlaxoSmithKline Consumer Healthcare records 21% growth for the year ended December 31, 2008
Sales up 21% and Profits up 16%
Highlights for the quarter_______________________________________________________
High double-digit growth in sales and profits in 2008
Recommended a Final Dividend @50%, a total of 150% for the Year.
Focus on existing and new products through innovation
Cost curtailment initiatives to control cost of inputs
Aggressive Retention and Development programs in place
GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for the year ended December 31, 2008. Net Sales at Rs. 15,42,78 lakhs recorded an impressive growth of 21% over 2007 with PAT at Rs. 1,88,33 lakhs growing by 16% for the same period and PBT growing by 16% over last year to Rs. 2,84,08 lakhs. For the Fourth quarter, net sales were Rs. 3,33,37 lakhs, while PBT and PAT were Rs. 50,72 lakhs and Rs. 32,58 lakhs respectively.
In the Golden Jubilee year of the Company, the Board of Directors recommended a final dividend @ Rs. 5 per equity share of Rs.10 each to share success with its shareholders. This is in addition to the interim dividend of 100% paid during November 2008.
“Despite market sentiments, GSKCH continued its strong performance in 2008 by achieving high double digit sales growth for yet another year. This has been achieved through focus on existing brands and cost control measures” said Zubair Ahmed, Managing Director, GlaxoSmithKline Consumer Healthcare Ltd.
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.
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