GSK: stock upbeat after FY results

(CercleFinance.com) - The GSK (GlaxoSmithKline) stock is up 1.
6% in London today after the group published adjusted 2017 EPS that was up 4% at constant exchange rates.

At 111.8 pence, EPS is in line with the group's targets and slightly above the consensus.

The British pharmaceutical giant improved its adjusted operating margin by 0.9 point to 28.4%, with sales of 30.2 billion pounds, up 8% as reported and up 3% at constant exchange rates.

For FY 2018, GSK's management has said that it expects adjusted EPS growth of 4% to 7% at constant exchange rates, assuming no generic competitor for its Advair drug in the US in mid-year (-3% to 0% otherwise).

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