GSK Bangladesh Limited has been an active part of the pharmaceutical scenario of Bangladesh for a long time now. In Bangladesh, its functions are surrounded by 3 basic categories of pharmaceutical products. These are:
a) Locally manufactured pharmaceutical products like Ventolin, Berin, Kefdrin, Amoxil, Dermovate, Zantac, Lamictal etc.
b) Imported pharmaceutical products like Alkeran, Leukeran, Seretide etc.
c) Vaccines like Engerix-B, Havrix, Hiberix, Varilrix etc.
Profits generated through the manufacturing, import, promotion and sales of these products are the financial fuel of the company. And the annual reports of the company have done a terrific job stating the relevant information regarding financial movements in the company and secured the National Award for Best Published Annual Reports & Accounts for the fifth year in a row until 2005. The Institute of Chartered Accountants of Bangladesh (ICAB) declares this award after a threadbare review of disclosures and other contents of the report based on a set of stringent criteria prescribed by South Asian Federation Of Accountants (SAFA).
Like any other public limited company, the directors are responsible for ensuring the maintenance of proper accounting records, which disclose with reasonable accuracy the financial position of the company at any time and from which financial statements can be prepared to comply with the Companies Act 1994 and Securities & Exchange Rules 1987 and the Listing Regulations of the Dhaka Stock Exchange.
After making enquiries, the directors have responsible expectation that the company has adequate resources to continue its operational existence for the foreseeable future. For this reason, they continue to adopt the Going Concern Basis in preparing the financial statements.
4.2 FINANCIAL STATEMENTS
Without exception, GSK Bangladesh Limited publishes the attached financial statements through their annual report including the ratios stated