GlaxoSmithKline Consumer Healthcare records strong growth for the quarter ended June 30, 2010. Sales increase by 14 % and Profits up by 30 %
02 August 2010
Gurgaon, NCR, India,Aug 2, 2010
GlaxoSmithKline Consumer Healthcare records strong growth for the quarter ended June 30, 2010
Sales increase by 14% and Profits up by 30%
Highlights for the quarter______________________________________________________
Sales and Profits register strong double digit growth
Increase in distribution, focus on product innovations and expansion into new
categories are the key growth drivers
Sustained focus on managing operating costs through cost efficiency measures
GlaxoSmithKline Consumer Healthcare Limited (GSKCH) today declared its financial results for the quarter ended June 30, 2010. Net sales at Rs 537 crores recorded an impressive growth of 14% over 2009 with PAT at Rs. 72 crores growing by 30 % for the same period and PBT growing by 25%, over last year to Rs. 108 crores.
"GSKCH’s stellar performance this quarter has been led through product innovation initiatives, strengthening distribution network, expanding into new product categories and efficient cost management. With these strategic measures, the company continues to focus on strengthening its leadership position in the health & wellness category in India.", said Zubair Ahmed, Managing Director, GlaxoSmithKline Consumer Healthcare Ltd.
The quarter saw both Horlicks and Boost powering ahead with double digit growth during the second quarter. Bolstering the distribution network further has accentuated the growth of Company’s products with Boost recording the highest ever distribution numbers in the second quarter. Strong inroads were made with new product launches such as Horlicks Badam Masti and Foodles that further augmented the Company’s presence in the market place.
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 550 wholesalers and direct coverage of over 6,00,000 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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Genesis Burson Marsteller