Loading...
See More

Adcock profits slump on drug loss

Nov 27 2012 08:12 Reuters

(Supplied)

Company Data

ASPEN PHARMACARE HOLDINGS LIMITED [JSE:APN]

Last traded 378
Change 7
% Change 2
Cumulative volume 1071363
Market cap 0

Last Updated: 27-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

ADCOCK INGRAM HOLDINGS LIMITED [JSE:AIP]

Last traded 52
Change 0
% Change 0
Cumulative volume 1045139
Market cap 0

Last Updated: 27-03-2015 at 04:14. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Adcock buys Indian medicine business

Drug firms win R2.5bn tender

Aspen buys GSK Aussie drugs for R2.2bn

Cipla to bid for control of SA affiliate

Cipla mum on why it suspended CEO

Aspen boosts profit, Asian unit robust

 
Johannesburg - South Africa's No 2 drug maker, Adcock Ingram [JSE:AIP], reported a worse-than-expected 9% fall in full-year earnings, hit by the loss of high-margin drugs and unfavourable currency swings.

Adcock said diluted headline earnings per share totalled 422 cents in the year to end-September, from 465c a year earlier.

The results fell short of the 430c forecast by StarMine's SmartEstimate, which gives more weight to forecasts from top rated analysts.

Headline EPS, the main profit gauge in South Africa, excludes certain one-time items.

The company said sales were largely flat at R4.6bn, but it raised its final dividend by 8% to 115c per share.

Adcock has been struggling in recent months after losing three drugs that contributed as much as R200m in sales due to safety reasons while the weaker rand and lower consumer demand added to the headwinds.

Shares in Adcock are down nearly 12% so far this year, far behind its closest rival Aspen Pharmacare [JSE:APN], which has surged more than 60%. 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

adcock ingram  |  earnings reports

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...