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Smithkline Beecham Pharmaceuticals has registered a marginal increase in net profits at Rs 33.26 crore for the year ended December 31, 1998 as compared with Rs 33.18 crore in the previous year.Sales value grew by 20 per cent to touch Rs 401.75 crore as compared with Rs 334.56 crore in the previous year. The board has proposed a dividend of 30 per cent on the enhanced share capital for the year ended December 31, 1998.SB Pharmaceutical's managing director, DM McDonald said the company has performed as per expectations and registered a sales growth of 19 per cent under difficult circumstances.
"Our major products have seen very high level of competitive pressures. Considering that we have had a high growth level of 28 per cent in the previous year, the 1998 performance is gratifying.''
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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