Monday, July 30, 2018 07:45 PM / Proshare Research email@example.com
At the closing of trading today, GLAXOSMITH recorded +10.39% gain to close at N17.00k from the previous price of N15.40k.
A look at the performance of the stock’s share price in the last one week reflected that it has also moved up by +1.8%.
So what is driving this price movement?
There are, at this point, no known fundamental changes in this purely consumer business and operations. The company has also been downsizing for sometime now.
It will be informative to identify the fundamentals linked to this upward drive / movement recorded in the share price today as it had hitherto been moving in and out of losses as its financials portray, the latest of which was its Q1 2018 Results with N258.9m PAT declared. The market still awaits its Q2 2018 results.
According to people familiar with the matter, globally, there is talk of a demerger from the consumer business operations with plans for re-focus on Pharma and Vaccines.
Recall that in October 2016, GSK announced the completion of its divestment from its drink and distribution business and transferred ownership to Suntory Beverage & Foods Nigeria Ltd.
The disposal of its drinks business slashed its revenue even as the company reiterated its commitment to broadening its range of health-care products and widening distribution to boost sales after a challenging economy in 2016.