GlaxoSmithKline consumer Nigeria plc said its loss for the year 2017 dropped by 91% to NGN651.6 million compared to NGN7.7 billion loss recorded in the financial year 2016.
The company’s revenue increased to NGN11.4 billion from NGN10.8 billion posted in the previous year while gross profit also stood at NGN2.2 billion higher than NGN2.0 billion recorded in the year before.
GSK’s investment income grew to NGN768.0 million against NGN6.8 million in the fiscal year 2016.
Total assets of Glaxosmithkline Consumer in the period under review was NGN26.1 billion compared to NGN38.3 billion disclosed in 2016 while total liabilities was reduced to NGN10.0 billion against NGN29.5 billion in the year before.
