Aspen's earning up 23% to R46.74

Aspen Pharmacare said normalised diluted headline earnings per share (HEPS) increased 23% to R46.74 for the six months to December‚ led by growth in its international business.

7 Mar 2014

Aspen's earnings climbed sharply as a result of a strong performance from its international division. Image: dpavumba Free Digital Photos

Revenue from its international business climbed by 94% to R3.4bn following the acquisition of a manufacturing unit from global healthcare group MSD and the completion of the infant nutrition transaction with Nestlé during the period.

"The global brands portfolio was an important driver of the growth achieved in the international business and the margin improvement projects for these products continued to yield favourable outcomes‚" the company said in a statement.

Revenue from its South African operations improved by 8% to R3.8bn although the fall in anti-retrovirals prices‚ rising inflation and administered costs‚ and the weaker rand reduced margins.

Aspen said the second half of the year would benefit considerably from the implementation of its recent acquisitions. Opportunities to achieve greater market penetration with its global brands portfolio would also be pursued.

Source: I-Net Bridge

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