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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