ADCOCK INGRAM HOLDINGS LIMITED - Trading Statement

Trading Statement

Adcock Ingram Holdings Limited
(Registration number 2007/016236/06)
(Incorporated in the Republic of South Africa)
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram”, “the Group” or “the Company”)

TRADING STATEMENT

Further to the Stock Exchange News Service (“SENS”) announcement on 5 August 2014, and in terms of paragraph 3.4(b)
of the JSE Listings Requirements, shareholders of Adcock Ingram are provided with further guidance in regard to the
financial results for the nine-month period ended 30 June 2014. The Board of Directors of Adcock Ingram (the “Board”)
can now confirm with a reasonable degree of certainty that the financial results for the aforesaid period will be reported
substantially as follows:

                                                                                               Earnings
                                     Loss Range            Earnings       Percentage          Per Share       Percentage
                                       Per Share          Per Share            Range      30 September             Range
                                   30 June 2014      30 June 2013*           Change                2013          Change
                                            Cents             Cents                 %             Cents                 %
Basic                           (570.0) – (580.0)             269.9      (311) - (315)            348.6      (264) - (266)
Headline                        (175.0) – (185.0)             271.7      (164) - (168)            350.5      (150) - (153)
*Company information

The Group recorded an extremely weak trading performance for the nine-month period ended 30 June 2014, not only as
a result of a general decline in turnover, but also through significant pressures on margins and profits arising, inter alia,
through unfavourable currency conversion rates, key overhead inflation, and an inadequate single exit price percentage
escalation. In addition, certain of the Group's manufacturing facilities operated at relatively low levels of production
capacity, intensifying the adverse consequences of under recovered fixed costs.


Having regard to the substantive reorganization and structural changes within the business, several substantial
impairments were found to be necessary in this period and the financial impact has been included and accounted for in
the guidance statistics set out above.


It is too early for the Board to provide shareholders with any comfort regarding a return to profitability in the short
term, but the Board remains optimistic about the Group's longer term prospects.


The financial information on which this trading statement is based has not been reviewed or reported on by the
Company’s external auditors. The Company’s audited financial results for the nine-month period ended 30 June 2014
will be released on SENS on or about 28 August 2014.


Midrand
18 August 2014


Sponsor
Deutsche Securities (SA) Proprietary Limited

Date: 18/08/2014 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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