Adcock Ingram

WEB Adcock Ingram Reports Strong Growth

Johannesburg

The Adcock Ingram Group today reported an increase in turnover of 8% with trading profit growth of 15% for the six-month period ended 31 December 2023.

Financial Highlights

The Group’s revenue increased by 8% to R11.3 billion, driven by strong performances from the South African and Rest of Africa businesses.

Trading profit increased by 15% to R2.1 billion, supported by improved gross margins and cost control initiatives.

Headline earnings per share increased by 20% to 786 cents.

Operational Highlights

The Group’s South African business continued to perform well, with revenue growth of 7% and trading profit growth of 14%. This was driven by strong demand for the Group’s branded and generic products.

The Rest of Africa business delivered revenue growth of 11%, with trading profit increasing by 19%. This growth was supported by the Group’s expansion into new markets and the launch of new products.

Outlook

The Group remains cautiously optimistic about the outlook for the 2023 financial year. While the economic environment remains challenging, the Group is confident in its ability to continue to deliver sustainable growth.

The full results information can be accessed on the Adcock Ingram website at www.adcock.co.za.

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