Drugmaker GSK posts profits jump, boosted by vaccines

British drugs giant GlaxoSmithKline said Wednesday that net profits soared 50 percent in the group's third quarter, buoyed by a bright performance at its vaccines division.

Earnings after tax rallied to £808 million (906.4 million euros, $987.5 million) in the three months to the end of September, compared with a year earlier, GSK said in a result statement.

Revenues jumped 23 percent to £7.542 billion over the same period.

"Our third quarter results reflect strong performances across the group and the sustained progress we have made over the course of 2016 to deliver sales growth of new products, maintain effective cost control and execute on our restructuring and integration plans," said chief executive Andrew Witty.

In September, GSK promoted its consumer healthcare head Emma Walmsley to chief executive, a move which will make her the most powerful woman on the FTSE 100.

Walmsley, who joined from French cosmetics giant L'Oreal six years ago and has a background in marketing, will take up her new post in late March.