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Wednesday, August 28th, 2019


S.Africa's Adcock Ingram posts higher FY profit, unloads Ghana investment

JOHANNESBURG, Aug 28 (Reuters) – South African 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 Ltd, its associate in Ghana, as its performance did not meet expectations.

Adcock Ingram, which also has operations in India, said revenue rose 11% to 7.1 billion rand ($465.97 million). ($1 = 15.2369 rand) (Reporting by Nqobile Dludla; Editing by Subhranshu Sahu)