CMP - Cipla Medpro South Africa Limited - Trading statement and clarification of
CMP
CMP
CMP - Cipla Medpro South Africa Limited - Trading statement and clarification of
results
CIPLA MEDPRO SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
(ISIN Number: ZAE000128179 Share Code: CMP)
("Cipla Medpro" or "the Company")
TRADING STATEMENT AND CLARIFICATION OF RESULTS
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20%
different from those of the previous corresponding period.
Shareholders are advised that the Company expects earnings per share ("EPS")
and headline earnings per share ("HEPS") for the six months ended 30 June 2011
to be between 68% and 75% higher than the EPS and HEPS for the prior
corresponding period.
The case against Pfizer Ltd and Pfizer Laboratories (Pty) Ltd, reported on
SENS during October 2010, has been settled in our favour. This has positively
affected the EPS and HEPS calculations but should be viewed as an isolated
occurrence. The settlement income has been accounted for in our statement
of comprehensive income however the terms thereof remain confidential. On a
normalised basis, after adjusting for the settlement income received, the full
effect of the fair value adjustment on the interest rate swaps, interest rate
swap settlements and the forward exchange contract ("FEC") gains, normalised EPS
and HEPS are expected to increase between 20% and 27%.
The information in this trading statement has not been reviewed or reported on
by Cipla Medpro`s auditors. The Company`s results for the six months ended 30
June 2011 are expected to be published on or about 25 August 2011.
11 August 2011
Durban
Investment Bank and Sponsor
Nedbank Capital
Date: 11/08/2011 07:05:01 Produced by the JSE SENS Department.
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