GlaxoSmithKline, plc, (GSK) has posted better financial performance during the year ended December 2006 on account of significant sales growth in block busters and widening portfolio of fast-growing products. The company's net profit touched to British Pound 5,498 million from £4,816 million, registering a growth of 17 per cent on constant exchange rate (CER) Its turnover moved up by 9 per cent to £23,225 million (US$ 42,966 million) from £21,660 million in the previous year.

Pharmaceutical sales went up by 9 per cent to £ 20,078 million ($37,144 million) during the year 2006 from £18,661 million in the previous year. The sales of Seretide/Advair went up by 11 per cent to £ 3,313 million with US sales of £1,870 million. The sales of Avandia product group increased sharply by 25 per cent to £1,603 million. Similarly, vaccines sales increased by 23 per cent to £1,692 million. The sales in Europe increased by 1 per cent to over £5.5 billion.

The board has declared a fourth interim dividend of 14 pence per share resulting in a dividend for the year of 48 pence, a four pence increase over the dividend of 44 pence per share for 2005.

Commenting on the performance of 2006 and GSK's outlook, JP Garnier, CEO, said "GSK continues to make progress on all fronts. Sales growth is coming from an ever widening portfolio of fast-growing products, and sustained improvements in margin have enabled us to deliver a strong financial performance, with EPS up 19 per cent in CER terms. We also have very healthy momentum in our pipeline, with 10 new products added to our late-stage development efforts in the lat 12 months. We now have over 30 significant product opportunities in phase III development or registration, including five major new products planned for launch this year. For all these reasons, we look to the future with confidence."

The EPS for the year 2007 projected in the range of 8-10 per cent in CER terms - driven by continued growth from key products and improvements in margin.