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GlaxoSmithKline profits drop

British drugmaker GlaxoSmithKline on Wednesday announced a 13-percent drop in annual profits and said it would further restructure its European operations to deliver greater savings amid weaker sales across the region. GSK said profit after tax fell to £4.565 billion ($7.153 billion, 5.285 billion euros) in 2012 from £5.261 billion a year earlier.

Group sales dropped 3.5 percent to £26.431 billion, GSK added in an earnings statement. Chief executive Andrew Witty said the company was extending its European restructuring programme "to deliver annual cost savings of at least £1.0 billion by 2016."

Copyright Agence France-Presse, 2013



 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln