South Africa’s second biggest drug company, Adcock Ingram, posted a 4,6% rise in full-year headline earnings per share (EPS) on Tuesday, and said its core businesses had remained resilient in the global market downturn.
The healthcare firm said headline EPS — South Africa’s main profit gauge that strips out certain financial and non-trading items — stood at 387,6 cents for the year to end-September. Turnover rose 14,6% to R3,3-billion.
Adcock Ingram, which produces products such as Panado painkillers and flu remedy Corenza Para-C, debuted on the Johannesburg Stock Exchange in August.
The company, which is also South Africa’s second largest supplier of HIV antiretroviral (ARV) drugs, was spun-off from the country’s biggest consumer-branded goods giant Tiger Brands earlier this year.
Adcock’s rival Aspen, South Africa’s largest pharmaceutical producer, reported a 10% rise in its full-year headline EPS in September. — Reuters