Adcock Ingram expects earnings to jump by half
The Bidvest-linked pharmaceuticals group appears to have turned a corner in 2017
Adcock Ingram expects headline earnings per share (HEPS) for the six months ended December 2016 to leap between 45% and 49%. Since early 2014, the Bidvest-linked pharmaceuticals group has been a somewhat bitter pill for shareholders to swallow. But it appears to have turned a corner in 2017, with the share price jumping from about R44 a share in late November to about R54 now. The group experienced a nonrecurring capital profit in the interim period resulting from the R407m disposal of part of its Indian business in 2016. This was tempered by certain nonrecurring accounting costs. Results for the six months are expected to be released on or around February 22.