Pre-tax profit fell in first quarter compared to the same period of the previous year for British pharmaceutical firm GSK.
GSK reported on Wednesday that first quarter profit before tax was £1.35 billion ($1.35 billion), a decline of 29% at annual equivalent rate (AER), or a decline of 18% at constant exchange rates (CER).
Earnings per share were 25.7 pence, down 30% at AER, or a decline of 19% at CER.
Core operating profit was £2.44 billion, up 17% at AER, or an increase of 27% at CER.
Core EPS was 43.1 pence, an increase of 16% at AER, or an increase of 28% at CER.
First quarter turnover was £7.36 billion, up 6% at AER, or an increase of 10% at CER.
Turnover excluding Covid-19 products was £7.36 billion, up 8% at AER, or an increase of 13% at CER.
GSK now expects 2024 turnover growth towards the upper part of 5% to 7% range; core operating profit growth of 9% to 11%, revised from 7% to 10% previously; and core earnings per share (EPS) growth of 8% to 10%, updated from 6% to 9% previously.
GSK expects to declare a dividend for first quarter of 15 pence per share and for the full year 60 pence.