July 24, 2019 / 11:12 AM / a month ago

GSK forecasts smaller hit to FY profit after Q2 beat

July 24 (Reuters) - GlaxoSmithKline Plc on Wednesday forecast a smaller-than estimated fall in full-year profit after the British drugmaker beat profit consensus for the second quarter due to demand for its fast-growing Shingles vaccine.

GSK now expects annual earnings for 2019 to decline between 3% and 5% versus a previous forecast of a 5% to 9% fall at constant currency.

Adjusted earnings were 30.5 pence per share in the second quarter. Analysts on average had expected earnings of 25.8 pence, according to a company-compiled consensus here of 10 analysts.

The company earlier on Wednesday appointed HSBC's Jonathan Symonds to succeed Philip Hampton as non-executive chairman, ending a six month search as the drugmaker prepares to split its businesses into two. (Reporting by Pushkala Aripaka in Bengaluru; editing by Patrick Graham)

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