AstraZeneca profit fallsChristian Fernsby ▼ | February 14, 2020
AstraZeneca's annual profit fell 14% as rising costs and higher asset writedowns offset sales increases at the pharmaceutical company.
AstraZeneca Operating profit for the year to the end of December declined to $2.9bn
Pretax profit fell to $1.55bn from $1.99bn. The company's core earnings per share meanwhile rose 1% to $3.50.
The final quarter showed a deterioration in performance as revenue unadjusted for currency changes rose 4% to $6.7bn and operating profit fell 46% to $577m. Core earnings dropped 44% to 89 cents a share.
The FTSE 100 company said it expected 2020 revenue to rise by a percentage in the high single digits or low double digits and for core earnings to improve by a mid to high teens percentage. The guidance assumes a few months of impact from the coronavirus outbreak. ■