| Fri 5 Jun 2015, 11:40 | | ADCOCK INGRAM HOLDINGS LIMITED - Trading statement |
|
AIP 201506050013A
Trading statement
Adcock Ingram Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2007/016236/06)
Share code: AIP ISIN: ZAE000123436
("Adcock" or "the Company")
TRADING STATEMENT
1. Introduction
In terms of the Listings Requirements of the JSE Limited (JSE), an issuer is required to
publish a trading statement on the Stock Exchange News Service of the JSE (SENS) as soon
as they are satisfied that a reasonable degree of certainty exists that the financial results for
the period to be reported on will differ by at least 20% or more from the financial results for
the previous corresponding reporting period.
In this regard, shareholders are reminded that Adcock has changed its year end from 30
September to 30 June. The Company accordingly prepared audited financial statements for
the nine month period ended 30 June 2014 and these reflected a basic loss and headline
loss per share of 572.3 and 179.5 cents respectively. The basic loss per share included non-
trading expenses of R967.6 million, which incorporated significant asset impairments of
R843.4 million and transaction costs of R91.0 million. The headline loss contained the
prescribed after-tax adjustments of R662.6 million to the loss attributable to shareholders,
primarily related to impairments of property, plant and equipment, and intangible assets.
On 23 February 2015, the Company released its interim results for the six-month period
ended 31 December 2014 on SENS, reporting basic and headline earnings per share of 84.1
cents and 83.8 cents respectively. The interim results reflected the trading since the
reorganisation and restructure of the business in the second half of the 2014 calendar year.
Shareholders are encouraged to consider the figures referred to above when analysing the
contents of the trading statement for the year ending 30 June 2015 provided below.
2. Trading statement for the year ending 30 June 2015
Shareholders are advised that the Company expects, for the year ending 30 June 2015, an
improvement of at least 20%, calculated as an enhancement of at least 114.5 cents and 35.9
cents respectively, for basic and headline earnings per share compared to the reported nine
month period ended 30 June 2014. However, the Company does not have the reasonable
certainty required to provide specific guidance on the range of basic earnings or headline
earnings per share at this stage, and will issue a further trading statement once the range
can be determined.
The forecast financial information on which this trading statement is based has not been
reviewed or reported on by the Company's external auditors.
The results for the year ending 30 June 2015 will be released on the SENS on or about
25 August 2015.
Johannesburg
5 June 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05/06/2015 11:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
