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GSK: Q4 better than expected - confident for 2023

( - Pharmaceutical company GSK reported better-than-expected Q4 results on Wednesday and said that it is confident about the new financial year.

In local currencies, the British company's sales rose 4% in Q4 to 7.37 billion pounds, above the consensus of 7.07 billion pounds.

Business was driven by sales of its Shingrix shingles vaccine, which reached 769 million pounds in the quarter, up 29% relative to Q4 2021 and 3% above expectations.

GSK said that it has benefited from a good momentum at the start of the financial year and is targeting sales growth of 6% to 8% this year in local currencies, with EPS growth expected at 12% to 15%.

This compares with consensus expectations of 6% sales growth and 13% EPS growth.

A timid nod from investors in London, with GSK shares up 0.2% just before 11 am, in a very flat FTSE 100 index.

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