Two weeks ago, GSK Consumer Nigeria Plc declared a final dividend of N0.50 per share for the 2018 financial year. This comprised of 36 kobo from retained pioneer profits and 14 kobo from after-tax profit for the year ended 31 December 2018)
This was preceded by a board meeting which was held on Thursday, the 7th of March, 2019.
However, perhaps by error, the company is yet to upload the results in question nearly two weeks after they were released.
An email sent to the company’s investor relations was delivered but has not been replied. GSK Consumer Nigeria has also failed to upload the results to its website.
GTL registrars, registrars to the firm, have also not uploaded the results to their website.
The absence of results, while not intended, could create room for manipulation, since only those with insider information are aware of the results.
On the 8th of March, 2019, when a dividend notice was placed, the stock closed at N11.50. The stock then closed at a 5–year low of N10.50, on the 19th of March, 2019.
GSK Consumer closed at N10.80 in today’s trading session on the Nigerian Stock Exchange (NSE)
About the company
GlaxoSmithKline Consumer Nigeria Plc was incorporated on June 23, 1971. The principal activities of the company are manufacturing, marketing and distribution of consumer healthcare and pharmaceutical products.
Results for the nine months ended September 30, 2018, show that revenue increased from N11.4 billion in 2017 to N13.9 billion in 2018. Profit before tax stood at N507 million, as against a loss before tax of N651 million in 2018. Profit after tax stood at N351 million in 2018, compared to a loss after tax of N651 million in 2017.