GSK Nigeria Records Promising Results

The Nigerian unit of UK-based drugmaker GlaxoSmithKline (GSK) has defied difficult operating conditions to record impressive financial results for 2006 with turnover rising 21% to NGN10.4bn (US$81.8mn). The company also generated a profit before tax of NGN1.5bn (US$11.8mn), an increase of 8% y-o-y, despite continuing problems with poor infrastructure and an erratic power supply.

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