ASPEN PHARMACARE HOLDINGS LIMITED - Trading Statement

Trading Statement

Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/002935/06)
Share code: APN & ISIN: ZAE000066692
("Aspen")

Trading Statement
Aspen shareholders are hereby advised that normalised headline earnings per share
(“NHEPS”) , headline earnings per share and earnings per share for the 6 months ended
31 December 2016 are expected to vary from those reported in the comparative period,
ended 31 December 2015, within the following ranges:

Measure                Range          Cents per share     Cents per share in     Notes
                                                          the comparative
                                                          period -
                                                          31 December 2015       

NHEPS                  3% to 8%       675.2 to 707.9      655.5                  1

Headline earnings per  49% to 57%     624.0 to 657.5      418.8                  2
share

Earnings per share     -13% to -17%   603.5 to 632.6      727.1                  3

Notes:

1. NHEPS comprises headline earnings per share adjusted for specific non-trading items.
   NHEPS is the primary measure used by management to assess Aspen’s underlying
   financial performance.

2. The significant increase in headline earnings per share is attributable to the once-off
   negative effect in the comparative period arising from the devaluation of Aspen’s
   Venezuelan business.

3. The decline in earnings per share is due to the positive effect of significant capital
   profits realised in the comparative period arising from the disposal of non-core
   businesses and products.

The financial results on which this trading announcement is based have not been reviewed
or reported on by Aspen`s external auditors.

Aspen`s interim results for the 6 months ended 31 December 2016 are scheduled to be
published on SENS on 9 March 2017.

Durban
1 March 2017

Sponsor: Investec Bank Limited

Date: 01/03/2017 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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