By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Drug manufacturer, GlaxoSmithKline Consumer Nigeria Plc said on Wednesday its full year 2015 pretax profit fell 58 percent to N1.157 billion from N2.752 billion recorded a year ago.
Similarly, profit after tax (PAT) dipped 47.8 percent to N965.05 million from N1.848 billion declared in the same period of 2014.
Revenue of GlaxoSmithKline inched up from N30.52 billion in 2014 end to N30.63 in the review period of 2015; representing a slight increase of 0.37 percent, the drugmaker said in a filing with the Nigerian Stock Exchange (NSE).
The board of directors of the company proposed a dividend of 30 kobo per share to its investors. According to GlaxoSmithKline, closure date has been scheduled for May 25, 2016; while Annual General Meeting (AGM) and payment dates are June 23 and June 24, 2016 respectively.
GlaxoSmithKline in its 2014 audited year end paid a 75 kobo per share dividend and one (1) new share for every four (4) existing shares to investors of the company.
The proposed 30 kobo per share dividend is a 60 percent cut in dividend payment to shareholders of the company compared to 75 kobo per share paid in 2014 end.
