GlaxoSmithKline - Financial summary



	2000		1999			Increase



Business performance	£m		£m		CER %	£ %

Sales	18,079		16,164		9	12

Trading profit	5,026		4,378		12	15

Profit before taxation	5,327		4,708		11	13

Earnings/Net income	3,697		3,222		13	15

Earnings per Ordinary Share	61.0	p	52.7	p	14	16



Total results

Profit before taxation	6,029		4,236

Earnings/Net income	4,154		2,859

Earnings per Ordinary Share	68.5	p	46.7	p

Business performance: results exclude merger items and restructuring costs; 1999 sales and trading profit exclude the Healthcare Services businesses which were disposed of in 1999.

CER% represents growth at constant exchange rates. £% represents growth at actual exchange rates.

Financial highlights

Pharmaceutical sales up 10 per cent
Sales growth in key therapeutic areas:
• Central nervous system up 16 per cent
• Respiratory up 15 per cent
• Anti-virals up 14 per cent
New products contributed nearly £1 billion in growth, up 60 per cent:
• Avandia achieved sales of £462 million
• Seretide achieved sales of £208 million, with US launch planned for April 2001
Business performance pre-tax profit up 11 per cent
Business performance earnings per share up 14 per cent




Shareholder return	2000		1999



Dividends per GlaxoSmithKline share:
former Glaxo Wellcome shareholder	38.0	p	37.0	p
former SmithKline Beecham shareholder	29.7	p	26.7	p



Share price (London Stock Exchange):
GlaxoSmithKline share at 31st December 2000	£18.90		–
Glaxo Wellcome share at 26th December 2000/31st December 1999	£18.42		£17.50
SmithKline Beecham share at 26th December 2000/31st December 1999	£8.33		£7.90



1 Glaxo Wellcome share is equivalent to 1 GlaxoSmithKline share.
1 SmithKline Beecham share is equivalent to 0.4552 GlaxoSmithKline shares.

Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995, the company cautions investors that any forward-looking statements or projections made by the company, including those made in this document, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the company’s operations are discussed under 'Risk Factors' in the Operating and financial review and prospects section of this Annual Report.