GSK's Financial Growth in Q1 2023

GSK plc has announced a notable financial performance for the first quarter of 2023, with turnover reaching £6.95 billion. This marks a 2% increase compared to the same period in 2024, or a 4% rise at a constant exchange rate.

Earnings and Profit Surge

The company's total earnings per share (EPS) experienced a significant 55% year-on-year increase to 39.7 pence, while core EPS saw a 4% rise to 44.9 pence. Operating profit also showed impressive growth, standing at £2.2 billion—a 49% increase from the first trimester of 2024. Adjusted operating profit climbed 4% to £2.5 billion.

Strategic Developments and Future Plans

CEO Emma Walmsley highlighted GSK's strong progress, emphasizing the quality and resilience of the company's portfolio. Specialty Medicines, GSK's largest business, contributed significantly to sales in the quarter. The company also made strides in R&D, securing two of the five FDA product approvals anticipated this year and acquiring a promising new oncology asset. Walmsley also mentioned the focus on upcoming launches and pivotal trials for potential new medicines in respiratory, oncology, HIV, and hepatitis.