Profits rise for SmithKline

Profits rise for SmithKline

SmithKline Beecham, chaired by Sir Peter Walters (below), announced a 9 per cent increase in third quarter pre-tax profits to pounds 310m bringing the nine- month total to pounds 1.48bn, a 59 per cent increase. Sales from continuing operations rose 16 per cent as new products continued to make up for declining turnover from ulcer treatment Tagamet. Jan Leschly, chief executive, said the quarter's biggest achievement was the launch of an over-the-counter version of Tagamet to treat heartburn. SB's A shares closed 9p higher at 673p.