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GlaxoSmithKline Q1 profit down

GlaxoSmithKline has reported a profit after tax of GBP1.17 billion, or 22.2 pence per diluted share, for the first quarter ended March 31, 2009, compared to GBP1.33 billion, or 24.2 pence per diluted share, for the same quarter of 2008.

Before major restructuring charges, profit attributable to shareholders was GBP1.33 billion or 26.2 pence per share for the first quarter of 2009, compared to GBP1.37 billion or 25.5 pence per share in the same quarter of 2008.

After major restructuring charges, gross profit was GBP4.98 billion for the first quarter of 2009, compared to GBP4.33 billion for the same quarter of 2008. Operating profit was GBP1.71 billion for the first quarter of 2009, compared to GBP1.96 billion for the same quarter of 2008.

For the first quarter of 2009, turnover was GBP6.77 billion, compared to GBP5.69 billion in the same quarter of 2008.