Adcock Ingram climbs after positive HEPS forecast
Shares in the pharmaceutical manufacturer benefited after it said HEPS for the six months to end-December will be at least 27% higher than the previous period
Pharmaceutical manufacturer Adcock Ingram’s said on Tuesday that headline earnings per share (HEPS) for the six months to end-December will be at least 27%, or 40c, higher than the previous period.
At 9.45am the company’s share price was up 1.68% at R61, having gained 4.54% so far in 2018.
Earnings per share (EPS) would rise by at least 12%, with this lower figure attributable to non-trading capital profits the company received in October 2016. This related to Adcock’s disposal of its business interests in India.
A more refined range of expected HEPS and EPS would be published in due course, the group said in a trading statement.
Adcock, whose major market by turnover remains in SA, had reported HEPS of 148.6c for the half year to end-December 2016, declaring a cash dividend of 63c.