Adcock eyes higher earnings
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.