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Real Economy News in Real Time
R/€ = 15.99 Change: -0.02
R/$ = 13.32 Change: 0.03
Au 1312.51 $/oz Change: 6.08
Pt 957.00 $/oz Change: 9.00
 
 
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Aspen Pharmacare posts 46% profit jump

14th September 2017 BY: Reuters

South Africa's Aspen Pharmacare reported a 46% rise in full-year profit, buoyed by a revenue boost from an anaesthetics portfolio acquired from AstraZeneca and GlaxoSmithKline, the company said on Thursday.

The drugmaker posted headline earnings per share of 1 299.5c for the year to end-June, up from 889c a year earlier.

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Headline earnings per share strips out certain one-off items and is the main profit measure in South Africa.

Aspen said the acquisition of the commercial rights to the anaesthetics portfolios of AstraZeneca and GlaxoSmithKline generated revenue of R7-billion ($532-million) out of a total of R41.2-billion.

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Profits were also supported by firmer sales in Aspen's home market during the second half of the year.

"In South Africa, a strong turnaround in the second half lifted the full year private sector performance by 9%, while the public sector edged up 1% to R1.5-billion," the company said. 

EDITED BY: Reuters
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