Lucozade, Ribena Divested 'By End Of Year', Says GSK
Published on Jul 26 2013 7:14 AM in Uncategorised
GlaxoSmithKline expects to have divested drinks brands Lucozade and Ribena 'by the end of the year', according to the firm's results announcement for Q2 2013, which was issued yesterday.
"Our previously announced plan to divest the nutritional drinks brands, Lucozade and Ribena, remains on track and we expect to reach an agreement by the end of the year," Sir Andrew Witty, GSK chief executive said in his statement.
While Ribena sales were down 2% in the quarter, Lucozade sales were up 4%, boosting the group's Nutrition portfolio, which grew by 7% in the quarter. However, a large contributor to this growth was from Horlicks, which grew by 23% in its core growth market of India.
Total Group turnover for Q2 2013 was £6,618 million. Overall, group sales grew 2% with growth seen in its Pharmaceuticals and Vaccines portfolio, which grew 1%, and a continued strong contribution from Consumer Healthcare, up 2% (5% excluding divestments).
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