Adcock Ingram posts higher FY profit, unloads Ghana investment

28th August 2019 By: Reuters

Pharmaceutical firm Adcock Ingram Holdings Ltd said on Wednesday full-year earnings rose 10.6% and that it disposed of its investment in Ghana.

Headline earnings per share from continuing operations for the year ended June 30 rose to 421.7 cents from a restated 381.3 cents in the previous year.

HEPS is the most widely watched profit gauge in South Africa and strips out certain one-off items.

The company said in a statement that it had disposed of its investment in Ayrton Drug Manufacturing, its associate in Ghana, as its performance did not meet expectations.

Adcock Ingram, which also has operations in India, said revenue rose 11% to R7.1-billion.