AZN » Topics » A strong third quarter with sales up 9 percent and Earnings per Share up 52 percent: year end targets increased.

This excerpt taken from the AZN 6-K filed Nov 8, 2005.

“A strong third quarter with sales up 9 percent and Earnings per Share up 52
percent: year end targets increased.”

Financial Highlights

Group   3 rd Quarter   3 rd Quarter Actual   CER   9 Months   9 Months Actual   CER
  2005   2004 %   %   2005   2004 %   %
  $m   $m     $m   $m  
Sales   5,789   5,265 +10   +9   17,664   15,627 +13   +10
Operating Profit   1,695   1,172 +45   +45   4,866   3,276 +49   +44
Profit before Tax   1,743   1,419 * +23   +23   4,978   3,549 * +40   +36
Earnings per Share:            
Before non-recurring items   $0.76   $0.51 +49   +52   $2.14   $1.46 +46   +42

Statutory   $0.76   $0.68 * +12   +13   $2.14   $1.63 * +31   +27

* There were two non-recurring items in Q3 2004, which benefited profit before tax by $219 million and earnings per share by $0.17. Excluding these benefits, earnings per share increased 52 percent at CER in the third quarter and 42 percent for the nine months compared with 2004.
All narrative in this section refers to growth rates at constant exchange rates (CER) unless otherwise indicated

  • Third quarter sales increased by 9 percent to $5,789 million and operating profit increased by 45 percent to $1,695 million.
  • Sales increase was driven by the strong performance of 5 key growth products (NexiumTM, CrestorTM, SymbicortTM, ArimidexTM and SeroquelTM) whose combined sales increased by 25 percent.
  • Sales for the nine months increased by 10 percent and operating profit by 44 percent. Operating margin for the nine months was 27.5 percent of sales.
  • Free cash flow of $4,294 million for the nine months. Share repurchases totalled $2,182 million year to date.
  • NexiumTM sales in the third quarter were $1,127 million, up 18 percent.
  • CrestorTM sales in the third quarter were $325 million, up 23 percent. In the week ending 14 October, CrestorTM share of new prescriptions in the US statin market was 6.8 percent.
  • SymbicortTM sales in the third quarter were $240 million, up 28 percent. US regulatory application for the pMDI formulation for the treatment of asthma was submitted on 23 September.
  • ArimidexTM sales in the third quarter were $303 million, up 36 percent. Share of total prescriptions in the US market is up 6.3 percentage points since December.
  • SeroquelTM sales in the third quarter were $706 million, up 32 percent.
  • The Company now anticipates earnings per share between $2.85 and $2.95 for the full year.

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