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Adcock eyes higher earnings

Oct 28 2011 15:49 I-Net Bridge

Company Data

ADCOCK INGRAM HOLDINGS LIMITED [JSE:AIP]

Last traded 49.34
Change 1.27
% Change 0.03
Cumulative volume 32030
Market cap 8.67bn

Last Updated: 17/09/2014 at 11:03. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The country's second-biggest pharmaceutical group, Adcock Ingram Holdings [JSE:AIP] advised on Friday that headline earnings per share for the year  are expected to be between 29% and 32% higher than the previous corresponding year's figure of 354.8 cents.

Basic earnings per share for the year from continuing operations are expected to be between 27% and 30% higher than the previous year's figure of 354.9c.

In a trading statement, the group reminded shareholders that a non-tax deductible International Financial Reporting Standards 2 share-based payment expense of R269m was incurred in the 2010 financial year (equivalent to 154.8c per share in that year), in relation to the Adcock Ingram broad-based black economic empowerment transaction approved in a general meeting of shareholders on April 9 2010.

The group's financial results for the year ended September 30 2011 will be released on Sens on November 22.

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