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 the leading 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, over-the-counter/ fast moving consumer goods (FMCG) brands, intravenous solutions, blood collection products and renal dialysis systems.

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

SALIENT features

Turnover increased 9% to R2,46 billion
EBITDA increased 15% to R564 million
HEPS decreased 5% to 188,1 cents
Dividend per share maintained at 86 cents
Strategic acquisition of Cosme brands in India concluded at a cost of R782 million
Continued operational improvement under challenging market conditions

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Commentary

The Company delivered satisfactory operating results from the activities under its control, reflecting continued progress with its strategic priorities. This was, however, a challenging period for the Company, both in markets for its products and in that the Rand weakened considerably compared to the prior corresponding period.

As released via SENS on 22 March 2013, the Company received an unsolicited proposal. Subsequent thereto, the Company announced on 9 May 2013 that it had received other proposals which the Board is evaluating. The Board, on 31 May 2013, updated shareholders that this process is ongoing and remains focused on obtaining the best outcome for the Company and delivering value to shareholders.

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Financials

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

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