Higher provisions for legal matters included a charge of £141m at the end of 2004, reflecting a change in the company’s accounting method of provisions for potential claims against GSK.
Earnings per share dropped slightly to 75 pence on sales down 5% to £20.36bn
JP Garnier, chief executive officer, was however upbeat for the future: ‘These results confirm the success with which GSK has navigated a difficult year, absorbing over £1.5bn of lost sales to generics and still managing to grow the business. The continuing success of our key products means we can now look forward to a good performance in 2005.’
Tallat Mahmood appointed to corporate finance team of Top 20 firm
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
Senior partner David Elliott has been appointed in KPMG’s Newcastle office
Turnover growth of 70% for 2016 has been reported at Corrigan Associates