- GlaxoSmithKline (GSK) has increased its dividend by 6% to 19p and reaffirmed its guidance for this year's profit performance.

This followed the announcement of broadly based sales growth in the third quarter with Group turnover up 1%.

Core operating profit was up 11% and core earnings per share was up 16% at 28.9p.

The increase in core operating profit was driven by continued strong cost control, including a reduction in R&D expenditure, and the delivery of a further benefit from a programme of initiatives started last year to re-shape and reduce certain long-term operating expenses.

By the end of the third quarter GSK had repurchased £1bn of shares and continues to target share repurchases of £1-2bn by the end of the year.

At 12:47pm: [LON:GSK] GlaxoSmithKline share price was -6.25p at 1594.75p

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