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Fifteen Months Financial Report Released by Glaxosmithkline

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Published on : May 19, 2015

GlaxoSmithKline Pharmaceuticals Company has made an announcement of its financial results for a period of fifteen months that ended on 31st March, 2015.The Company’s board of directors at its meeting, which was held on 6th of November, 2014, had made a decision to change the term of financial year of the company, which was from January to December. The new term decided will be from April to March. As a result of this decision, the company’s latest annual accounts and report has been prepared for the fifteen months period i.e. from 1st January, 2014 to 31st March, 2015.

According to the report presented by the company, sales of products has gone up by 29% for the mentioned period  of fifteen months, if compared to the last year’s twelve month period, which ended on 31st December, 2013. The decision of the financial term was impacted by the whole year effect of the costs control order that was introduced in mid of 2013. The business of the company continues to be affected by the supply hurdles majorly from the local supplies through the period in order to meet the rising demands of the market.

Furthermore, the gross margin has remains flat if compared to the previous year; in spite of the whole period impact of the cost control order and mainly, because of the incremental production prices and investments in the capital and manpower.

The profits before the exceptional products and the taxes accounted to 25% of net sales for the given fifteen month’s period, when compared to the previous twelve months of about 28%. The profit after the exceptional products and the taxes for the fifteen months periods accounted to 14% of the net sales, if compared to the 20% in 2013.