![[Corporate Action] GlaxoSmithKline’s Profits Drops By 74% to N485 million In Q3’2015](https://i0.wp.com/nairametrics.com/wp-content/uploads/2015/10/Glaxo.jpg?fit=620%2C388&ssl=1)
GlaxoSmithKline Nigeria Plc released its financial results for nine months ended September 2015.
The result showed that revenue declined by 24.51% from N30.5 billion in Q3’2014 to N23 billion in Q3’2015.
Profit before tax also declined by 74.51% from N2.7 billion in Q3’2014 to N700 million in Q3’2015.
See Summary of result below..
| GlaxoSmithkline Nigeria Plc Q3 2015 | 2015 | 2014 | % Change |
| N’m | N’m | ||
| Revenue | 23,040 | 30,521 | -24.51% |
| Gross Profit | 7,407 | 10,735 | -31.00% |
| Operating Expenses | -2,511 | -3,039 | -17.37% |
| Pre-tax profits | 700 | 2,752 | -74.56% |
| Profit After Tax | 485 | 1,848 | -73.76% |
| Share Price (As at Press time) | 38.20 |
