GSK Annual Report 2002
GSK Annual Report 2002
GSK Annual Report 2002
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142 GlaxoSmithKline<br />
Financial record<br />
Quarterly trend<br />
An unaudited analysis is provided by quarter of the Group results in sterling for the financial year <strong>2002</strong>. The analysis comprises statutory results,<br />
business performance results and pharmaceutical sales by therapeutic area.<br />
Profit and loss account – statutory 12 months <strong>2002</strong> Q4 <strong>2002</strong><br />
£m CER % £m CER %<br />
Sales – Pharmaceuticals 17,995 4,799<br />
– Consumer Healthcare 3,217 869<br />
Total sales 21,212 5,668<br />
Cost of sales (4,609) (1,253)<br />
Selling, general and administrative expenditure (8,041) (2,184)<br />
Research and development expenditure (2,900) (905)<br />
Operating costs (15,550) (4,342)<br />
Trading profit – Pharmaceuticals 5,176 1,165<br />
– Consumer Healthcare 486 161<br />
Total trading profit 5,662 1,326<br />
Other operating income/(expense) (111) 23<br />
Operating profit 5,551 1,349<br />
Share of profits/(losses) of joint ventures and associated undertakings 75 17<br />
Disposal of businesses 10 4<br />
Product divestments 11 (1)<br />
Profit before interest 5,647 1,369<br />
Net interest payable (141) (36)<br />
Profit on ordinary activities before taxation 5,506 1,333<br />
Taxation (1,461) (362)<br />
Profit on ordinary activities after taxation 4,045 971<br />
Minority interests (110) (31)<br />
Preference share dividends (20) (5)<br />
Earnings (Profit attributable to shareholders) 3,915 935<br />
Basic earnings per share 66.2p 16.0p<br />
Profit and loss account – business performance<br />
Sales – Pharmaceuticals 17,995 8 4,799 7<br />
– Consumer Healthcare 3,217 2 869 2<br />
Total sales 21,212 7 5,668 7<br />
Cost of sales (4,243) (2) (1,075) (13)<br />
Selling, general and administrative expenditure (7,543) 5 (2,041) 14<br />
Research and development expenditure (2,732) 9 (847) 24<br />
Operating costs (14,518) (3,963)<br />
Trading profit – Pharmaceuticals 6,148 16 1,520 6<br />
– Consumer Healthcare 546 5 185 4<br />
Total trading profit 6,694 15 1,705 5<br />
Other operating income/(expense) (111) 23<br />
Operating profit 6,583 13 1,728 7<br />
Share of profits/(losses) of joint ventures and associated undertakings 75 17<br />
Profit before interest 6,658 1,745<br />
Net interest payable (141) (36)<br />
Profit on ordinary activities before taxation 6,517 11 1,709 7<br />
Taxation (1,760) (462)<br />
Profit on ordinary activities after taxation 4,757 10 1,247 6<br />
Minority interests (110) (31)<br />
Preference share dividends (20) (5)<br />
Adjusted earnings (Profit attributable to shareholders) 4,627 11 1,211 6<br />
Adjusted earnings per share 78.3p 13 20.7p 9
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