GlaxoSmithKline's results are out and they seem to have slightly disappointed the market.
The pharmaceuticals group said fourth quarter turnover was down 3% at £6.98bn with earnings per share before restructuring charges at 28.4p. Analysts had been expecting sales of around £7.3bn and earnings of 29p. But at least the figures showed a turnaround from the loss of 7.5p a share reported a year ago.
The company's shares have dipped 25.5p to £13.94 following the news, accounting for more than 5 points of the FTSE 100's current 36.15 point decline to 5856.05.
Glaxo was positive on its drugs pipeline, a key component for future growth. It said of 15 late stage drugs it highlighted last year, it has received data on nine, one is filed for regulatory approval and another three ready to file.
