Wrap Text
Audited Group financial results and cash dividend
declaration for the year ended 30 June 2022
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/016236/06)
Share code: AIP ISIN: ZAE000123436
("Adcock Ingram" or "the Company" or "the Group")
Audited Group financial results and cash dividend
declaration for the year ended 30 June 2022
Revenue +12%
Gross profit +14%
Trading profit +22%
HEPS +24%
Dividend +25%
B-BBEE level 2
Introduction
The Board of Directors (Board) is very pleased to report a strong operational and financial performance,
driven by improved demand for its over-the-counter (OTC) and consumer healthcare products.
The Group has achieved healthy growth in turnover, which with some benefit from the exchange rate
and an advantageous sales mix, has yielded an exceptional increase in trading profit and excellent cash
generation.
Dividend
The Board has declared a final dividend of 109 cents per share for the year ended 30 June 2022 out
of income reserves, bringing the total dividend for the year to 213 cents, an increase of 25% over the
prior year and in line with the growth in earnings.
Prospects
Given the ongoing weakness in the local economy, high fuel prices and the significant deterioration of the Rand,
much of our focus for 2023 will be on management of margins.Consumers are likely to remain under pressure because
of rising food, transport and energy costs.
We remain cautious, but we are confident in the resilience of our balanced portfolio of healthcare brands,
with a proven ability to adapt to changing market dynamics.
Change Audited Audited
% 2022 2021
Revenue (R'000) 12 8 705 817 7 776 854
Gross profit (R'000) 14 3 057 755 2 682 775
Trading profit (R'000) 22 1 112 287 914 610
Operating profit (R'000) 24 1 052 820 849 755
Headline earnings per share (cents) 24 502.0 404.7
Basic earnings per share (cents) 25 494.8 396.3
Total assets (R'000) 7 889 162 7 040 418
Net asset value per share (cents) 3 242.4 2 894.7
Interim dividend declared per share (cents) 104.0 80.0
Final dividend declared per share (cents) 109.0 90.0
Segment revenue
Consumer (R'000) 23 1 562 727 1 267 287
OTC (R'000) 19 2 059 258 1 735 239
Prescription (R'000) 7 3 228 242 3 021 520
Hospital (R'000) 6 1 855 035 1 752 229
Segment trading profit
Consumer (R'000) 49 351 144 235 380
OTC (R'000) 9 318 080 292 327
Prescription (R'000) 24 276 451 223 826
Hospital (R'000) 2 164 350 161 385
Dividend distribution
The Board has declared a final gross dividend out of income reserves of 109 cents per share in respect
of the year ended 30 June 2022. The South African dividend tax ("DT") rate is 20% and the net dividend
payable to shareholders who are not exempt from DT is 87.20 cents per share. Adcock Ingram currently has
169 758 861 ordinary shares in issue and qualifying for ordinary dividends. The income tax reference number
is 9528/919/15/3.
The salient dates for the distribution are detailed below:
Last date to trade cum distribution Tuesday, 13 September 2022
Shares trade ex distribution Wednesday, 14 September 2022
Record date Friday, 16 September 2022
Payment date Monday, 19 September 2022
Share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2022 and
Friday, 16 September 2022, both dates inclusive.
N Madisa AG Hall
Chairperson Chief Executive Officer
Approved by the Board: 24 August 2022
SENS release date: 25 August 2022
Company secretary M Phalafala
Registered office 1 New Road, Midrand, 1682
Postal address Private Bag X69, Bryanston, 2021
Transfer secretaries Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue,
Rosebank, Johannesburg, 2196. Private Bag X9000, Saxonwold, 2132
Auditors PricewaterhouseCoopers Inc, 4 Lisbon Lane, Waterfall, 2090
Sponsor Rand Merchant Bank (a division of FirstRand Bank Limited), 1 Merchant Place, corner Fredman
Drive and Rivonia Road, Sandton, 2196
Bankers Nedbank Limited, 135 Rivonia Road, Sandown, Sandton, 2146. Rand Merchant Bank, 1 Merchant Place,
corner Fredman Drive and Rivonia Road, Sandton, 2196. Investec Bank Limited, 100 Grayston Drive, Sandton, 2146
The full announcement has been published on SENS and is available at
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/AIP/AIP022022.pdf The contents of this short-form
summary announcement are the responsibility of the Board of Directors. Any investment decision should be
considered and based on the content of the information contained in the full announcement and the group
annual financial statements which includes the unqualified audit opinion, that will be published
on the Company's website at www.adcock.com/investors/financialreports. Copies of the full
announcement are available for inspection at the registered office of the Company and may be requested
without charge during office hours by phoning +27 11 635 0143.
Date: 25-08-2022 07:05:00
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