Investogist
No Result
View All Result
Friday, August 1, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    Nnamdi Azikiwe University issues notice to Postgraduate Graduands on 17th Convocation Ceremony

    Nnamdi Azikiwe University’s guidelines for 2025/2026 POST-UTME, Direct entry screening exercise

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    FG denies JSS1 admission age rumors, confirms 10-year minimum

    FG approves 300% increase in electricity tariff

    Enugu State Electricity Regulator lacks power to reduce electricity tariff – NERC

    UK bans Nigerian students and others from bringing family

    UK stops issuing new Health and Care Worker visas to foreign workers

    Trump wins a resounding victory in first Republican primary in Iowa

    Trump secures U.S. – Japan strategic trade and investment agreement

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Shareholders of Linkage Assurance Plc approve share bonus distribution

    Shareholders of Linkage Assurance Plc approve share bonus distribution

    Aradel Holdings to list shares on NGX Main Board October 14

    Aradel Holdings Plc reports N368.1 billion revenue for H1 2025

    Custodian Investment Plc announces 25 kobo interim dividend

    Custodian Investment Plc announces 25 kobo interim dividend

    Seplat Energy increases share capital, lists new shares

    Seplat Energy increases share capital, lists new shares

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

    UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

    UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

    UBA commences Rights Issue of 3.15 billion ordinary shares

    Approval given for acquisition of International Energy Insurance Plc

    UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

    Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

    Presco Plc declares ₦20.00 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    Nnamdi Azikiwe University issues notice to Postgraduate Graduands on 17th Convocation Ceremony

    Nnamdi Azikiwe University’s guidelines for 2025/2026 POST-UTME, Direct entry screening exercise

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    FG denies JSS1 admission age rumors, confirms 10-year minimum

    FG approves 300% increase in electricity tariff

    Enugu State Electricity Regulator lacks power to reduce electricity tariff – NERC

    UK bans Nigerian students and others from bringing family

    UK stops issuing new Health and Care Worker visas to foreign workers

    Trump wins a resounding victory in first Republican primary in Iowa

    Trump secures U.S. – Japan strategic trade and investment agreement

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Shareholders of Linkage Assurance Plc approve share bonus distribution

    Shareholders of Linkage Assurance Plc approve share bonus distribution

    Aradel Holdings to list shares on NGX Main Board October 14

    Aradel Holdings Plc reports N368.1 billion revenue for H1 2025

    Custodian Investment Plc announces 25 kobo interim dividend

    Custodian Investment Plc announces 25 kobo interim dividend

    Seplat Energy increases share capital, lists new shares

    Seplat Energy increases share capital, lists new shares

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

    UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

    UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

    UBA commences Rights Issue of 3.15 billion ordinary shares

    Approval given for acquisition of International Energy Insurance Plc

    UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

    Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

    Presco Plc declares ₦20.00 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year

Sunday, 29 January 2023, 6:19 pm
in Business, Companies
0
GlaxoSmithKline Nig. Plc reports N692mn profit for the 2022 financial year
Share Share Share Share Send as Email

GlaxoSmithKline Consumer Nigeria Plc (NGX: GLAXOSMITH) has reported a profit of N692.05mn for the financial year ended 31st December, 2022.

This is contained in the unaudited consolidated and separate financial statements released by the company on Friday. The reported profit is 5.05% higher than the profit the consumer goods company reported in 2022.

Read also; VACANCY: Nestoil is recruiting into several positions

A review of the financial reports by Investogist, revealed that the company was able to grow its profit after tax despite a 1.86% drop in Gross Profit because of the N310mn it earned from Investments.

Analysis of Statement of Profit or Loss and Other Comprehensive Income

  • Turnover: GlaxoSmithKline earned a revenue of N25.30bn in the year, 12.76% growth from the N22.44bn revenue it made in 2021. All the revenue was from the sale of goods in Nigeria. N8.62bn was from sale of consumer healthcare products, while N16.76bn was from sale of Pharmaceuticals products. N19.33bn was booked as the cost of sales in 2022, against N16.27bn booked in 2021 financial year.
  • Investment Income: An investment income of N310.30mn was reported by the company, a tremendous improvement on the N93.54mn it reported in 2021 financial year. All the income was gotten from interest income on short-term deposits.
  • Selling and Administrative expenses: Glaxo spent N1.81bn on administration, marginally higher than the N1.79bn it spent on the same thing in 2021. It also booked N3.59bn on as selling and distribution cost, 1.54% higher than the N3.54bn spent in 2021. Of the N5.41bn spent on selling and administration (2021: N5.34bn), N2.51bn was booked against intercompany rechargeable expenses (2021: N1.80bn), N986.75mn was spent on advert and promotion (2021: N1.36bn), and N663.55mn was spent o payroll (N940.23mn).
  • Profit before tax: GlaxoSmithKline Nig. Plc posted a 8.41% growth in profit before tax; N1.02bn against N945.75mn in 2021.
  • Profit after tax: The profit after tax grew marginally from N658.81mn in 2021 to N692.05mn 2022, a 5.05% increase.
  • Earnings per share: GlaxoSmithKline posted an Earnings per Share of N0.58 in the 2022 financial year.

Analysis of Statement of Financial Position

  • Cash and cash equivalents: The cash and cash equivalent held by the company as at 31st December, 2022 was N19.97bn (31st Dec. 2021: N12.74bn).
  • Total Assets: The company’s assets went up by 12.02% from N26.25bn as at 31st December 2021, to N29.47bn as at 31st December, 2022. The cash and bank balances accounted for N19.97bn of the company’s asset, while Inventories of N3.63bn and Trade & other receivables of N3.78bn being the other big components of the asset.
  • Total Liabilities: The total liabilities rose by 17.70% from N16.95bn to N19.95bn. Trade and other payables of N19.25bn (31st Dec. 2021: N16.95bn) accounted for most of the liabilities. The major component of the Trade & other receivables as reported was N14.29bn (31st Dec. 2021: N11.75bn).
  • Shareholder’s fund: The shareholder’s fund increased marginally, growing by 1.66% from N9.29bn to N9.45bn as at 31 December 2022. The retained earnings, the major component of the Shareholder’s fund also increased marginally, growing by 1.78% to N8.80bn.

Analysis of Statement of Cash Flow

  • Operating activities: N7.12bn was generated by operating activities.
  • Investing activities: GlaxoSmithKline generated N353.57mn was generated by investing activities.
  • Financing activities: N244.81mn was used in financing activities.

About the Company

GlaxoSmithKline Nigeria Consumer Plc is a public limited liability company incorporated in 1971 and domiciled in Nigeria where its shares are publicly traded.

46.4% of the shares of the Company are held by Setfirst Limited and Smithkline Beecham Limited (both incorporated in the United Kingdom); and 53.6% by Nigerian shareholders.

The ultimate parent and ultimate controlling party is GlaxoSmithKline Plc, United Kingdom (GSK Plc UK). GSK Plc UK controls the Company through Setfirst Limited and Smithkline Beecham Limited.

The registered office of the Company is located at 1 Industrial Avenue, Ilupeju, Lagos.

The principal activities of the company are marketing and distribution of consumer healthcare and pharmaceutical products.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • BUACEMENT 2
    2022 financial year: BUA Foods Plc reports N90.40bn…
  • BUACEMENT 2
    BUA Cement Plc reports N101bn Profit After Tax for…
  • UBA
    UBA reports N170.28 billion profit for 2022 financial year
  • NPF-Microfinance
    NPF Microfinance Bank reports 77.79% growth in…
Previous Post

Brighton knock Liverpool out of FA Cup

Next Post

Zenith Bank’s Board of Directors approve payment of final dividend for 2022

Next Post
Zenith Bank’s Board of Directors approve payment of final dividend for 2022

Zenith Bank's Board of Directors approve payment of final dividend for 2022

Please login to join discussion
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Seplat Energy increases share capital, lists new shares

Seplat Energy increases share capital, lists new shares

FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

Custodian Investment Plc announces 25 kobo interim dividend

Custodian Investment Plc announces 25 kobo interim dividend

Shareholders of Linkage Assurance Plc approve share bonus distribution

Shareholders of Linkage Assurance Plc approve share bonus distribution

Aradel Holdings to list shares on NGX Main Board October 14

Aradel Holdings Plc reports N368.1 billion revenue for H1 2025

Custodian Investment Plc announces 25 kobo interim dividend

Custodian Investment Plc announces 25 kobo interim dividend

Seplat Energy increases share capital, lists new shares

Seplat Energy increases share capital, lists new shares

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved