- Pharmaceutical company GlaxoSmithKline reported a 30% rise in annual profit after it doubled of sales of its shingles vaccine, though if forecast weaker earnings in 2020.

Pre-tax profit for the year through December roes to £6.22bn, up from £4.80bn on-year.

Revenue rose 10% to £33.75bn, while adjusted operating profit rose 3% to £8.97bn.

Adjusted earnings per share (EPS) on a constant currency basis rose 1% to 123.9p.

For 2020, GlaxoSmithKline forecast adjusted EPS at constant currency to fall by between 1% and 4%.

The company declared a fourth-quarter dividend of 23p per share, bringing the total payout for the year to 80p. It forecast its dividend to stay steady at 80p for 2020.

Adjusted operating profit in the fourth quarter of 2019 fell 16% to £1.85bn.

Chief executive Emma Walmsley said the company had delivered a 'good' performance, with growth in sales and earnings, together with strong cash generation.

'We also made excellent progress in all three of our long-term priorities: innovation, performance and trust, strengthening our pipeline, improving operational execution and reshaping the company.'

GlaxoSmithKline recently merged its consumer healthcare division into a joint venture with Pfizer.

At 1:14pm: [LON:GSK] GlaxoSmithKline PLC share price was -31.3p at 1783.7p

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