| Wed 26 Nov 2008, 9:04 | | AIP - Adcock Ingram Holdings Limited - Adcock trading announcement |
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AIP
AIP
AIP - Adcock Ingram Holdings Limited - Adcock trading announcement
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2007/016236/07)
Share code: AIP
ISIN: ZAE000123436
("Adcock")
Adcock Trading Announcement
Shareholders are referred to the year end results announcement of Tiger Brands
Limited ("Tiger Brands") for the year ended 30 September 2008 released on SENS
on Tuesday, 25 November 2008. The announcement stated that results of Adcock
for the 11 months to 24 August 2008 were included in Tiger Brands` results
(under the heading "Discontinued operations") following the unbundling of
Adcock, which was completed on 25 August 2008.
Shareholders are advised that the Tiger Brands results may contain certain
consolidation adjustments which may not necessarily be accounted for in the same
manner by Adcock as a separate group and should therefore not be viewed as an
indication of Adcock`s full year results.
An extract from the notes to the results of Tiger Brands released on SENS on
Tuesday, 25 November 2008 is set out below:
"Discontinued operations - Healthcare
On 25 August 2008 the unbundling of Adcock Ingram Holdings Limited was
completed. The results of Adcock Ingram Holdings Limited for the 11 months to 24
August 2008, which are included in the Group results, are presented below:
2008 2007
Reviewed Audited
Year ended 30 September Rm Rm
Turnover 2 926,9 2 817,4
Operating income before abnormal items 899,5 957,3
Abnormal items (71,4) (53,1)
Interest paid (171,5) (117,6)
Interest received 47,7 7,7
Dividend received 5,2 -
Profit before tax from a discontinued operation 709,5 794,3
Taxation (198,9) (262,4)
Profit for the period from a discontinued operation 510,6 531,9
The net cash flows incurred by the Healthcare business
are as follows:
Operating 342,2 715,4
Investing (1 429,5) (95,5)
Financing 1 312,9 (825,5)
Net cash inflow/(outflow) 225,6 (205,6)"
As a result of the unbundling of Adcock on 29 August 2008, the 2008 results
disclosed above include only 11 months of trading of Adcock compared to a full
year`s trading in 2007.
Furthermore, shareholders should note that the extract from Tiger Brands`
results containing the results of Adcock were not reviewed or audited by
Adcock`s auditors.
Adcock`s results for the year ended 30 September 2008 are expected to be
released on SENS on or about Tuesday, 2 December 2008. Shareholders are advised
to await the publication of the Adcock results before making an informed opinion
of the results.
26 November 2008
Sponsor
Deutsche Securities (SA) (Proprietary) Ltd
Date: 26/11/2008 09:04:17 Produced by the JSE SENS Department.
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