Salient features

Turnover increased 5% to
R2,25 billion
EBITDA decreased 15% to
R490 million
HEPS decreased 10% to
198,7 cents
Dividend per share increased 6,2% to 86 cents
Cash on hand: R568 million



Adcock Ingram is a leading South African pharmaceutical manufacturer, marketer and distributor. The Company has a 10% share of the private pharmaceutical market in South Africa with a strong presence in over-the-counter brands. The Company is South Africa’s largest supplier of hospital and critical care products. Its footprint extends to India and other territories in sub-Saharan Africa.

The extensive product portfolio includes branded and generic prescription medicines and over-the-counter/fast moving consumer goods (FMCG) brands, intravenous solutions, blood collection products and renal dialysis systems.


To be recognised as a leading world-class branded healthcare company.




The six-month period under review saw Adcock Ingram facing several challenges, both internal and external, that tested the Company’s business model and strategy. Although the financial results achieved were disappointing, the Company continues to invest in its supply chain, products and people, all of which give confidence for improved future performance.

Headline earnings

The Company achieved headline earnings for the six months ended 31 March 2012 of R335,8 million. This represents a 12% decrease from the comparable figure for 2011 of R381,7 million. This translates into a decrease of 10,2% at the headline earnings per share (HEPS) level and 10,4% at the earnings per share (EPS) level.

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Financial Statements

arrow Consolidated statements of comprehensive income
arrow Consolidated statement of changes in equity
arrow Consolidated statements of financial position
arrow Consolidated abridged statements of cash flows
arrow Notes to the consolidated financial statements




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