International businesses lift Aspen's revenue
Aspen Pharmacare reported a 12% increase in comparable revenue to R35.4 billion for the year to end June.
|||Johannesburg - Africa’s biggest generic drug maker, Aspen Pharmacare, reported a 12 percent increase in comparable revenue to R35.4 billion for the year to end June with international business contributing significantly to its overall revenue.
The business increased revenue 19 percent to R18.9bn and grew comparable operating profit before amortisation, adjusted for specific non-trading items by 15 percent to R5.9bn.
South African revenue declined by 1 percent to R8.1bn, with Asian Pacific revenue rising by 11 percent to R7.4bn and sub-Saharan Africa revenue increasing by 18 percent to R3.3bn.
Chief executive Stephen Saad, said: “The recent transactions, with a focus on anaesthetics which has been identified as a key therapeutic category for the group’s strategic development plans, will further strengthen Aspen’s presence in the sector.”
The acquisition of Mono-Embolex, a thrombolytic product with almost all of its sales in Germany, in the second half of last year further strengthened Aspen’s portfolio in this therapeutic area.
In South Africa, the group did not perform as well as they would have wanted to.
Aspen announced yesterday that it would buy a portfolio of GlaxoSmithKline’s anaesthetics drugs for as much as £280m (R5bn), continuing its strategy of deepening its hold in key growth markets by acquiring other companies’ niche products.
The group also reported a 15 percent increase in comparable normalised headline earnings per share to 1 222 cents a share, while normalised operating profit before amortisation, adjusted for specific non-trading items improved by 9 percent to R9.4bn.
Aspen declared a dividend of 248 cents per ordinary share for the year, up by 14.81 percent as compared with 216 cents a share last year.
The company’s share price gained more than 2 percent on JSE when Aspen released the results in the afternoon after it traded lower for the most of the day.
It later closed up 1.21 percent at R340.07 a share.
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