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Johannesburg - The continent's biggest pharmaceutical group, Aspen Pharmacare, advised on Tuesday that headline earnings per share for the 12 months ended June are forecast to exceed those of the comparative period by 60% to 70%.
Earnings per share for the year are forecast to exceed those reported in the comparative period by 45% to 55%.
"The higher forecast increase in headline earnings per share is caused by the exclusion of non-recurring capital profits and losses in the determination thereof," the group said in a trading statement.
"Aspen's international operations, which have been significantly expanded over the past eighteen months, have contributed strongly to this growth whilst the South African operations have returned positive results, despite the challenging trading and economic environment," Aspen said.
"Having given consideration to Aspen's existing debt service
commitments and future possible investments, the Aspen board of directors has resolved that there will be no cash distribution paid to shareholders this year," the group added.
Aspen`s results will be published on Sens on September 8 2009.
- I-Net Bridge