City File: SmithKline Beecham unveils second-quarter profits
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ON TUESDAY, a few days before the Wellcome secondary share sale is complete, major pharmaceuticals rival SmithKline Beecham unwraps its second-quarter profit figures. Neither company is cheap, but the Anglo-American SKB yields 2.5 per cent against Wellcome's 1.5 per cent, and sells for 18 times historic earnings - a much less demanding rating than that of Wellcome. SKB is expected to come in with pre-tax profits of pounds 254m in the quarter, making pounds 532m for the half year to June, 10 per cent up on last year. Earnings per share are expected to rise 12 per cent, helped by the impact of lower interest rates on SKB's dollar auction rate preferred shares. And with dividend cuts all around in the market, SKB is likely to continue its 11 per cent increase in the pay-out to 4.14p net for the half year.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments