GLAXOSMITH Records 10.39% Gain - What is Driving This Movement in Share Price?

Proshare

Monday, July 30, 2018    07:45 PM / Proshare Research  research@proshareng.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%.

 

Proshare Nigeria Pvt. Ltd.

Source: TheAnalyst

Proshare Nigeria Pvt. Ltd.

Source: TheAnalyst


Proshare Nigeria Pvt. Ltd.

 


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.

 

 Proshare Nigeria Pvt. Ltd.


 


Related News

1.       GSK Declares N8.4BN Special Dividend at 47th AGM

2.      Shares Pump and Dump Schemes - Legality - Proshare Jul 18, 2018

3.      GLAXOSMITH declares N258.29m PAT in Q1 2018 Result,(SP:N24.00k)

4.      GlaxoSmithKline Consumer Nigeria Plc Announces Board Meeting Date and Closed Period

5.      GLAXOSMITH declares N651.61 Million Loss in Q3 2017 Result,(SP:N25.20k)

6.      GLAXOSMITH declares N21.71 million PAT in Q2'17 Result,(SP:N20.00k)

7.      GLAXOSMITH declares N8.26 million Loss in Q1 2017 Result,(SP:N14.09k)

8.     GSK Consumer Nig. Plc positions for sustainability, with focus on consumer healthcare portfolio

9.      GLAXOSMITH declares N4.20 billion PAT in 2016 Audited Result,(SP:N0.87k)

10.  GlaxoSmithKline Consumer Nigeria Plc Announces the Completion of Its Divestment

11.   Movement of Deal Closure Date on GLAXOSMITH Divestment of Drinks Bottling & Distribution Business

12.  Suntory to Take Over Ribena and Lucozade; FSDH Places a SELL on GLAXOSMITH

13.  GLAXOSMITH Holds EGM on the Proposed Sales of the Company's Manufacturing Business

14.  GLAXOSMITHKLINE Board of Directors Accepts Suntory Beverage & Food Ltd's Offer for Divestment

 

READ MORE:
Related News
SCROLL TO TOP