GlaxoSmithKline pledges to maximise existing business opportunities

• As shareholders approve firm’s 30k dividend

GlaxoSmithKline Consumer Nigeria Plc, a subsidiary of GSK Plc, has assured shareholders that it would continually maximise existing business opportunities with renewed commitment to sustainability, through investment, product innovations and capacity development.

This is just as shareholders of the company endorsed its 30 kobo dividend pay-out for the 2016 financial year.Speaking at the 46th yearly general meeting of the company, in Lagos at the weekend, itshe Chairman, Edmund Onuzo, told shareholders that the company is strongly committed towards attaining and sustaining high performance.

This, he said is achievable through investment in human capital and sustainable corporate responsibility initiatives, as well as drive increased local manufacturing and content contribution to increase its margins to mitigate foreign exchange fluctuations.

Onuzo explained that the divestment of the company’s drinks business in the third quarter had enabled it align with its global strategy, and focus on its core businesses with the aim of driving improved margins and sustainable growth.

He noted that although the immediate outcome of the divestment is a leaner and nimble company, but its focus on healthcare would enhance GSK’s brand portfolio.The Chairman added that GSK would continue to support its brand through increased marketing and promotions.

“In 2017, GSK would focus on growing major brands like Sensodyne, Panadol, Andrews Liver Salt, and Macleans to drive baseline profitability. These are part of our sustainability measures, we are now more focused on our core strength and going forward, we hope to aggressively build our consumer healthcare portfolio,” he said.

Speaking on behalf of the shareholders, the Founder, Independent Shareholders Association, Sunny Nwosu, lauded the board for its 2016 performance, especially the dividend pay-out.He urged them to continue to work tirelessly in order to improve its performance and deliver better returns to shareholders in the current financial year.