Adcock warns of ‘significant reversal’ in operating performance

5th August 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

After changing its financial year-end from September 30 to June 30, pharmaceuticals group Adcock Ingram has concluded “with absolute certainty” that the financial results for the nine months ended June 30 will result in a basic and headline loss a share, indicating a “significant reversal” in the company’s operating performance.

The company added in a trading statement on Tuesday that the effects of certain “corrective action” within the business were unlikely to yield significant improvement in the short term.

“The board is mindful of the disappointment with which this [information] is likely to be received,” it stated.

Adcock’s audited financial results for the Period ended June 30 were expected to be released on August 28

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION