1,421,831 (1,028,549) 393,282 (323,191) 70,091 4,160 74,251 14,408 88,659 (24,381) 64,278 5.

34

1,307,714 (938,003) 369,711 (238,076) 131,635 1,716 133,351 16,744 150,095 (41,335) 108,760 9.03

Sales 3,200,758

2,603,306 (1,741,625)

Cost of sales (2,240,540) Gross profit 960,218

861,681 (522,387)

Operating expenses (686,529) Trading profit 273,689 339,294

Other Income/(Expenses) 6,276 Profit from operations 279,965 Finance Income/(Expense) 28,400 Profit before taxation 308,365 Income tax expense (84,800) Profit for the period 223,565

3,652 342,946 27,629 370,575 (101,966) 268,609

Earnings per share (EPS) (Taka) 18.56 22.30

12,046,449 12,046,449 Shares used to compute EPS (Number) 12,046,449 12,046,449 M Azizul Huq Sarwar A Khan Managing Director Taka in '000 2012 Taka in '000 Three months to 30 June 2011 GlaxoSmithKline Bangladesh Limited Statement of Comprehensive Income For the half year ended 30 June 2012 2012 2011 Six months to 30 JuneAt 30 June At 31 December Finance Director

2012 2011 Non-current Assets Property, plant and equipment 500,965 500,965 Current assets Inventories 1,114,209 1,138,844 211,364 770,584 480,662 480,662

Trade and other receivables 507,147 Cash and cash equivalents 564,454 2,185,810 2,120,792 2,601,454

TOTAL ASSETS 2,686,775 EQUITY

Capital and reserves attributable to the Company's equity holders Share capital 120,465 120,465

Revaluation reserves 59,479 59,479 Capital reserves 166 General reserves 5,000 Retained earnings 1,280,049 TOTAL EQUITY 1,465,159 LIABILITIES Non-current liabilities Retirement benefit obligations 72,514 Obligation under finance lease 26,418 Deferred tax liability 35,901 134,833 144,978 35,901 82,139 26,938 166 5,000 1,237,180 1,422,290

Current liabilities

Trade and other payables 1,042,625 Current tax liabilities 36,812

995,094 32,469 6,623

Obligation under finance lease 7,346 1,086,783 1,034,186 1,179,164

Total Liabilities 1,221,616

TOTAL EQUITY AND LIABILITIES 2,686,775 M Azizul Huq Sarwar A Khan Managing Director Finance Director

2,601,454

GlaxoSmithKline Bangladesh Limited As at 30 June 2012 ASSETS Taka in '000 Statement of Financial PositionCash Flows From Operating Activities Collection from sales 2,926,659 2,513,047

Payment for cost and expenses (2,815,090) (2,121,951) Other income/(expense) 1,048 Interest received 30,965 28,660 Interest paid (2,565) Income tax paid (80,457) 60,560 304,889 (1,031) (94,411) (19,425)

Cash Flows From Investing Activities Acquisition of property, plant and equipment (91,624) (64,882) Sales proceeds of property, plant and equipment 5,630 (85,994) (60,215) 4,667

Cash Flows From Financing Activities

Dividend paid (180,696) (180,696) (240,929)

(240,929)

Net Increase/(Decrease) in Cash and cash equivalents (206,130) Cash and cash equivalents at Beginning of the Period 770,584 Cash and cash equivalents at End of the Period 564,454 M Azizul Huq Managing Director Statement of Cash Flows GlaxoSmithKline Bangladesh Limited For the half year ended 30 June 2012 Finance Director Six months to 30 June Sarwar A Khan Taka in '000 2012 2011Share Revaluation Capital General Retained Total Capital Reserves Reserves Reserves Earnings Equity Balance at 1 January 2011 120,465 Net Profit (after tax) for the Period Final dividend 59,479 (240,929) 59,479 59,479 (180,696) 59,479 166 166 166 166 -

3,745 666,043

669,788

5,000 268,609 (240,929) 5,000 5,000 223,565 (180,696) 5,000

1,196,041 268,609

1,381,151

Balance at 30 June 2011 120,465 Balance at 1 January 2012 120,465 Net Profit (after tax) for the Period Final dividend -

1,223,721 1,237,180 223,565

1,408,831 1,422,290

Balance at 30 June 2012 120,465 Notes:

1,280,049

1,465,159

Basis of accounting: Earning per share: Comparatives: Comparative information has been provided in accordance with BAS 34 - Interim Financial Reporting. Previous year's figures have been re-arranged to conform to this year's presentation, wherever considered necessary. M Azizul Huq Sarwar A Khan Managing Director Finance Director

Comparative Statement of Comprehensive Income, Statement of Cash Flows and Statement of Changes in Equity are those of period ended 30 June 2011, while Statement of Financial Position is that of 31 December 2011 Six months to 30 June GlaxoSmithKline Bangladesh Limited Statement of Changes in Equity For the half year ended 30 June 2012 Taka in '000' Basic earning per share has been calculated taking a capital base of 12,046,449 ordinary shares of Tk 10 each as issued up to 30 June 2012. No diluted earnings per share is required to be calculated as there was no scope for dilution during the period under review. These financial statements have been prepared on a going concern basis in compliance with Bangladesh Financial Reporting Standards (BFRS).Thrtshps[zg-bs [0 Ge \rsg\s t\gr t s\st \

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