 |
| |
| |
Business performance |
Merger,
restructuring
and disposal
of subsidiaries |
Total |
|
|
|
|
| Summary
profit and loss account |
2000
£m |
1999
£m |
CER% |
2000
£m |
1999
£m |
2000
£m |
1999
£m |
|
|
| Sales |
| Retained
businesses |
| • Pharmaceuticals |
15,429 |
13,618 |
10 |
- |
- |
15,429 |
13,618 |
| • Consumer
Healthcare |
2,650 |
2,546 |
3 |
- |
- |
2,650 |
2,546 |
|
| |
18,079 |
16,164 |
9 |
- |
- |
18,079 |
16,164 |
| • Healthcare
Services |
- |
632 |
|
- |
- |
- |
632 |
|
| Total
sales |
18,079 |
16,796 |
|
- |
- |
18,079 |
16,796 |
|
|
| Manufacturing,
selling and administration |
(10,543) |
(9,501) |
(9) |
(555) |
(443) |
(11,098) |
(9,944) |
| Research
and development |
(2,510) |
(2,285) |
(7) |
(16) |
- |
(2,526) |
(2,285) |
| Healthcare
Services |
- |
(607) |
|
- |
(30) |
- |
(637) |
|
|
| Trading
profit |
5,026 |
4,403 |
12 |
(571) |
(473) |
4,455 |
3,930 |
|
| Other
operating income |
274 |
413 |
|
- |
- |
274 |
413 |
| Income
from associates |
209 |
54 |
|
(8) |
(8) |
201 |
46 |
| Divestments |
- |
- |
|
1,402 |
9 |
1,402 |
9 |
| Merger
transaction costs |
- |
- |
|
(121) |
- |
(121) |
- |
| Net
interest payable |
(182)
|
(162) |
|
- |
- |
(182) |
(162) |
|
|
| Profit
before taxation |
5,327 |
4,708 |
11 |
702 |
(472) |
6,029 |
4,236 |
|
| Taxation |
(1,454) |
(1,327) |
|
(245) |
109 |
(1,699) |
(1,218) |
|
|
| Profit
after taxation |
3,873 |
3,381 |
12 |
457 |
(363) |
4,330 |
3,018 |
| Minority
interests and preference share dividends |
(176) |
(159) |
|
- |
- |
(176) |
(159) |
|
|
| Earnings |
3,697 |
3,222 |
13 |
457 |
(363) |
4,154 |
2,859 |
|
|
| Earnings
per share |
61.0p |
52.7p |
14 |
|
|
68.5p |
46.7p |
|
|
| Dividends |
|
2,097 |
2,005 |
|
|
| To
illustrate “Business performance”, merger items and
restructuring costs in 2000 and restructuring costs and disposal
of subsidiaries in 1999 have been excluded and an adjusted EPS
presented. Business performance growth is at constant exchange
rates. |
|
| Summary
balance sheet |
2000
£m |
1999
£m |
|
|
| Fixed
assets |
10,322 |
9,292 |
| Current
assets |
11,268 |
9,482 |
| Creditors:
amounts due within one year |
(9,084) |
(8,448) |
|
| Net
current assets |
2,184 |
1,034 |
|
| Total
assets less current liabilities |
12,506 |
10,326 |
|
| Creditors:
amounts due after one year |
(1,894) |
(2,044) |
| Provision
for liabilities and charges |
(1,657) |
(1,675) |
|
|
| Net
assets |
8,955 |
6,607 |
|
|
| Equity
shareholders’ funds |
7,711 |
5,464 |
| Minority
interests |
1,244 |
1,143 |
|
|
| Capital
employed |
8,955 |
6,607 |
|
| |
| Summary
information under US GAAP |
|
|
| Reduction
in earnings/net income under US GAAP |
(9,382) |
(1,946) |
| Increase
in shareholders’ funds/equity under US GAAP |
37,284 |
1,766 |
|
|
| Net
(loss)/income |
(5,228) |
913 |
| Net
(loss)/income per Ordinary Share |
(145.6p) |
25.2p |
| Shareholders’
equity |
44,995 |
7,230 |
|
|
| |
|
| |
|
|
| |
| |
| |
|
|
Merger,
restructuring and disposal of subsidiaries |
|
|
| |
Business
performance |
|
Total |
|
|
|
|
| Summary
profit and loss account |
2000
$m |
1999
$m |
CER% |
2000
$m |
1999
$m |
2000
$m |
1999
$m |
|
|
| Sales |
|
|
|
|
|
|
|
| Retained
businesses |
|
|
|
|
|
|
| •Pharmaceuticals |
23,452 |
22,061 |
10 |
- |
- |
23,452 |
22,061 |
| •Consumer
Healthcare |
4,028 |
4,125 |
3 |
- |
- |
4,028 |
4,125 |
|
| |
27,480 |
26,186 |
9 |
- |
- |
27,480 |
26,186 |
| •Healthcare
Services |
- |
1,024 |
|
– |
- |
- |
1,024 |
|
| Total
sales |
27,480 |
27,210 |
|
- |
- |
27,480 |
27,210 |
|
|
| Manufacturing,
selling and administration |
(16,025) |
(15,392) |
(9) |
(844) |
(717) |
(16,869) |
(16,109) |
| Research
and development |
(3,815) |
(3,702) |
(7) |
(24) |
- |
(3,839) |
(3,702) |
| Healthcare
Services |
– |
(983) |
|
- |
(49) |
– |
(1,032) |
|
|
| Trading
profit |
7,640 |
7,133 |
12 |
(868) |
(766) |
6,772 |
6,367 |
|
| Other
operating income |
416 |
669 |
|
- |
- |
416 |
669 |
| Income
from associates |
318 |
87 |
|
(12) |
(13) |
306 |
74 |
| Divestments |
– |
- |
|
2,131 |
15 |
2,131 |
15 |
| Merger
transaction costs |
– |
- |
|
(184) |
- |
(184) |
– |
| Net
interest payable |
(277) |
(262) |
|
- |
- |
(277) |
(262) |
|
|
| Profit
before taxation |
8,097 |
7,627 |
11 |
1,067 |
(764) |
9,164 |
6,863 |
|
| Taxation |
(2,210) |
(2,150) |
|
(372) |
176 |
(2,582) |
(1,974) |
|
|
| Profit
after taxation |
5,887 |
5,477 |
12 |
695 |
(588) |
6,582 |
4,889 |
| Minority
interests and preference share dividends |
(268) |
(257) |
|
- |
- |
(268) |
(257) |
|
|
| Earnings |
5,619 |
5,220 |
13 |
695 |
(588) |
6,314 |
4,632 |
|
|
| Earnings
per ADS |
$1.85 |
$1.71 |
14 |
|
|
$2.08 |
$1.51 |
|
|
| Dividends |
|
|
|
|
|
3,187 |
3,248 |
|
|
| To
illustrate “Business performance”, merger items and restructuring
costs in 2000 and restructuring costs and disposal of subsidiaries
in 1999 have been excluded and an adjusted EPS presented. Business
performance growth is at constant exchange rates. |
|
| |
|
|
|
|
|
2000 |
1999 |
| Summary
balance sheet |
|
|
|
$m |
$m |
|
|
| Fixed
assets |
|
|
|
|
|
15,380 |
14,960 |
| Current
assets |
|
|
|
|
|
16,790 |
15,266 |
| Creditors:
amounts due within one year |
|
|
(13,536) |
(13,601) |
|
| Net
current assets |
|
|
|
|
|
3,254 |
1,665 |
|
| Total
assets less current liabilities |
|
|
|
18,634 |
16,625 |
|
| Creditors:
amounts due after one year |
|
|
|
(2,822) |
(3,291) |
| Provision
for liabilities and charges |
|
|
|
(2,469) |
(2,697) |
|
|
| Net
assets |
|
|
|
|
|
13,343 |
10,637 |
|
|
| Equity
shareholders’ funds |
|
|
|
11,489 |
8,797 |
| Minority
interests |
|
|
|
|
|
1,854 |
1,840 |
|
|
| Capital
employed |
|
|
|
|
|
13,343 |
10,637 |
|
|
| The
financial statements above have been provided in US$ for the
convenience of US shareholders. The profit and loss account
has been translated at average exchange rates and the balance
sheet at period end exchange rates. |
|
| |
|
| |
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Updated March 22, 2001 - © 2001 GlaxoSmithKline - All Rights Reserved
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