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Highlights

  • GSK's Q2 FY24 turnover rose 9.8% to £7,884 million, driven by vaccine sales
  • Core operating profit increased 15.8% to £2,513 million in Q2 FY24
  • GSK revised its 2024 outlook, expecting turnover growth of 7% to 9% and core profit rise

GSK PLC (LSE: GSK) is a British pharmaceutical and biotechnology company. It is a multinational firm listed on the FTSE 100. The company's global headquarters is in London. The company has a market capitalization of GBP 63,717.84mn and its annual dividend yield is 3.93%.

In Q2 FY24, GSK's turnover reached £7,884 million, a 9.8% increase compared to pcp. Vaccine sales grew due to higher demand for Meningitis vaccines and Arexvy.

Cash generated from operations was £1,650 million, up 1.9% from £1,620 million in pcp. This increase was mainly due to higher core operating profit and lower pension contributions. However, it was somewhat offset by a rise in trade receivables, which is linked to increased sales and the timing of returns and rebates, particularly following changes to the AMP cap.

Core operating profit increased to £2,513 million, marking a 15.8% rise from pcp. This growth was driven by strong sales and a favorable mix of products and regions.

Recent Business Update

Company Outlook

GSK has updated its 2024 outlook. It now expects turnover to grow by 7% to 9%, an increase from the previous estimate of 5% to 7%. Core operating profit is projected to rise by 11% to 13%, up from 9% to 11%. Core earnings per share are anticipated to increase by 10% to 12%, versus the earlier forecast of 8% to 10%. The group anticipates low to mid-single-digit growth for vaccines, mid to high teens growth for specialty medicines, and low to mid-single-digit growth for general medicines.

Top 10 Shareholders

Around 20.22% of the company’s total shareholdings is held by GSK’s top ten shareholders. BlackRock Institutional Trust Company, N.A. has the maximum stake at around 5.53%, followed by The Vanguard Group, Inc. with about 2.87%. This is demonstrated in the chart below:

Price Information

The stock price of GSK has fallen by about 5.58% in the past month and around 10.59% over the last six months. Its 52-week low is GBX 1,371.40, while the 52-week high is GBX 1,823.50. As of 25 Sep 2024, its closing price is GBP 1527.00.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 25 September 2024. The reference data in this report has been partly sourced from EODHD/Others.