LONDON, Oct 26 (Reuters) - Drugmaker GlaxoSmithKline said on Wednesday it expected even bigger profit gains in 2016thanks to a weak pound, which has continued to fall afterBritain's vote in June to leave the European Union, as quarterlyresults beat expectations.
GSK, which is in the middle of a CEO handover that will seeconsumer healthcare head Emma Walmsley take change in 2017, nowsees the currency's slide pumping up full-year earnings pershare by 21 percent, against 19 percent seen three months ago.
The group generates more than 95 percent of its salesoutside Britain while many of its costs are in pounds, making ita big winner from sterling's tumble.
Quarterly sales, in sterling terms, rose 23 percent to 7.54billion pounds in the third quarter, generating core earningsper share (EPS) up 39 percent at 32.0 pence.
Analysts, on average, had forecast sales of 7.28 billionpounds and core EPS, which excludes certain items, of 29.6p,according to Thomson Reuters. (Reporting by Ben Hirschler; Editing by Martinne Geller)
Glaxosmithkline (GSK)
