Thursday July 9, 2020

GlaxoSmithKline suffers 66% fall in profits

Drugmaker GlaxoSmithKline (GSK) recorded a 66 per cent fall in profits from its plant in Dungarvan, Co Waterford, last year, despite rising turnover.

1st November, 2008

Drugmaker GlaxoSmithKline (GSK) recorded a 66 per cent fall in profits from its plant in Dungarvan, Co Waterford, last year, despite rising turnover.

GlaxoSmithKline Dungarvan, which employs about 430 people making over-the-counter drugs such as Panadol, made a pre-tax profit of €10.6 million last year, down from €30.3 million in 2006, according to accounts just filed.

The dip in profits came despite the company increasing its revenues by 5 per cent to €123 million during the year. The...

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