GSK is anticipating a turnover increase between 12% and 13% for the full year 2023. Credit: GSK plc.

GSK has reported a total operating profit of £1.94bn in the third quarter (Q3) of 2023, a 64% increase from the £1.19bn earned during the same quarter of the previous year.

The company’s total turnover stood at £8.14bn, up 4% from £7.8bn in the same period in 2022.

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During the first nine months of 2023, the company generated £22.2bn turnover, an increase from £21.9bn in the same period of the previous year.

For Q3, it achieved a 34% adjusted operating margin with an adjusted earning per share (EPS) of 50.4p.

In the first nine months of 2023, it generated an operating profit of £6.1bn, compared to £4.5bn in the previous year.

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GSK is expecting a turnover increase between 12% and 13% for the full year, and an adjusted operating profit increase between 13% and 15%.

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The company anticipates adjusted EPS growth between 17% and 20% for the full year.

GSK CEO Emma Walmsley stated: “Competitive performance was broadly based but benefitted particularly from the outstanding US launch of Arexvy, the world’s first RSV vaccine.

“Our excellent execution supports an upgrade to our full-year 2023 guidance and we have clear momentum as we look ahead to deliver our 2026 outlooks.

“GSK’s longer-term outlook also continues to strengthen, with progress in our vaccines pipeline, the development of our ultra long-acting HIV portfolio and significant new prospects in respiratory.”