GlaxoSmithKline Plc reported turnover of £8.6 billion for the third quarter, down by 8% from a year earlier, with all three of its business units showing anticipated sales declines. However there were signs of a recovery in the company’s vaccine business. This, plus measures to control costs, enabled the company to reaffirm its earnings guidance for the current year. On an adjusted basis, earnings per share are expected to be at the lower end of a one to four percent decline. The adjusted figure excludes amortisations and impairments of intangible assets.
