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Trading statement
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”)
TRADING STATEMENT
Adcock Ingram is currently finalising its results for the year ended 30 June 2016, which are expected to be
released on SENS on or about 26 August 2016.
In this regard, shareholders are advised that headline earnings per share (HEPS) from total operations are
likely to be between 227.2 cents and 228.9 cents per share (between 41.9% and 43.0%) higher than the
160.1 cents per share reported for the year ended 30 June 2015.
For a better appreciation of the earnings guidance herein, basic earnings per share and headline earnings
per share from total operations, continuing operations and discontinued operations are provided below:
Total operations Expected Reported Change
30 June 2016 30 June 2015
cents Cents
Basic earnings per share 98.4 – 101.6 117.2 (16.0%) – (13.3%)
Headline earnings per share 227.2 – 228.9 160.1 41.9% - 43.0%
Continuing operations (Note 1) Expected Reported Change
30 June 2016 30 June 2015
cents Cents
Basic earnings per share 222.6 – 223.7 204.2 9.0% - 9.5%
Headline earnings per share 225.1 – 226.2 198.7 13.3% - 13.8%
Note 1
Basic and headline earnings from continuing operations have been adversely impacted by a once-off IFRS 2
charge of R20.8 million related to the B-BBEE scheme implemented in July 2015.
Discontinued operations (Note 2) Expected Reported Change
30 June 2016 30 June 2015
cents cents
Basic loss per share (124.2) – (122.1) (87.0) (42.8%) – (40.3%)
Headline earnings/(loss) per share 2.1 – 2.7 (38.6) 105.4% - 107.0%
Note 2
The basic loss from discontinued operations (including India and Ghana) has been impacted by impairments
of R208 million recorded against investments categorised and treated as assets held-for-sale in terms of
IFRS, compared to impairments of R81.8 million provided on the assets in the previous year.
In accordance with IFRS, amortisation and depreciation of the held-for-sale Indian assets were suspended
from the start of the current financial year. The operating performance of the discontinued operations is
therefore inflated in the current year when compared to the prior year. For a more meaningful comparison
of the discontinued operations, depreciation and amortisation in the current year would have amounted to
R45 million, if it had been provided for on the same basis as in 2015.
The financial information on which this Trading Statement is based has not been reviewed and reported on
by the Company’s external auditors.
Midrand
19 August 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/08/2016 12:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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