GSK PLC reported an increase in profit and revenue for 2023 as revenue for HIV medicine had stable growth, amid optimism in the company’s outlook.

The Brentford, West London-based pharmaceutical maker said pretax profit climbed 7.7% to £6.06 billion in 2023 from £5.63 billion a year prior.

GSK’s HIV unit had a 12% revenue rise to £6.44 billion from £5.75 billion.

Revenue rose 3.4% to £30.33 billion in 2023 from £29.32 billion.

Meanwhile, revenue from established vaccines rose 5.9% to £3.27 billion from £3.09 billion, while revenue from Influenza vaccines dropped 29% to £504 million from £714 million.

Notably, GSK reported £1.24 billion in revenue for its respiratory syncytial virus vaccine Arexvy, which received approval in the US, the EU, Japan, the UK and Canada in 2023.

Arexvy is the first approved RSV vaccine in the world, accepted by the US FDA in May, which was followed by Pfizer Inc’s Abrysvo in August.

GSK declared a final dividend of 16.00 pence per share, up from 13.75p in the fourth quarter of 2022. However, this brings the total dividend to 58.00p, down 5.3% from a total payout of 61.25p in 2022.

Chief Executive Emma Walmsley said: ‘GSK delivered excellent performance in 2023, with clear highlights being the exceptional launch of Arexvy and continued progress in our pipeline. We are now planning for at least 12 major launches from 2025, with new Vaccines and Specialty Medicines for infectious diseases, HIV, respiratory and oncology.’

GSK said it expects turnover growth between 5% and 7% in 2024 and to pay a dividend of 60p per share.

Further, it eyes adjusted operating profit growth of 7% to 10% and a rise in adjusted earnings per share of 6% to 9% for 2024.

GSK shares were 1.0% lower at 1,522.40 pence each on Wednesday morning in London.

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