Wrap Text
Audited Group financial results and cash dividend declaration for the year ended 30 June 2023
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 2023
Revenue +5%
Gross profit +4%
Trading profit +6%
HEPS +12%
Final dividend declared: 125 cents per share
Total dividend increased 17% to 250 cents per share
Share buyback: 9.2 million shares
B-BBEE level 2
Change Audited Audited
% 2023 2022
Revenue (R'000) 5 9 131 852 8 705 817
Gross profit (R'000) 4 3 187 020 3 057 755
Trading profit (R'000) 6 1 180 475 1 112 287
Operating profit (R'000) 8 1 135 527 1 052 820
Headline earnings per share (cents) 12 561.3 502.0
Basic earnings per share (cents) 13 561.3 494.8
Total assets (R'000) 8 262 534 7 889 162
Net asset value per share (cents) 3 526.9 3 242.4
Interim dividend declared per share (cents) 125.0 104.0
Final dividend declared per share (cents) 125.0 109.0
Segment revenue
Consumer (R'000) 6 1 654 903 1 562 727
OTC (R'000) 11 2 282 422 2 059 258
Prescription (R'000) 2 3 294 379 3 228 242
Hospital (R'000) 2 1 899 225 1 855 035
Segment trading profit
Consumer (R'000) 2 356 831 351 144
OTC (R'000) 10 348 590 318 080
Prescription (R'000) 16 320 118 276 451
Hospital (R'000) (7) 152 094 164 350
The Board of Directors (Board) is pleased that the Group achieved a healthy financial and operational
performance in a challenging economic environment, characterised by currency weakness and
volatility, poor economic growth and increasing pressure on consumer disposable income.
Prospects
We are confident in the resilience of our diverse and affordable portfolio of healthcare brands, with a
proven ability to adapt to changing market dynamics, but remain cautious about the general state of
our operating environment. We welcome the recent 'top-up' SEP adjustment of 1.73%, following the
3.28% increase granted in January 2023, which will assist in alleviating the margin pressures on our
price-regulated basket of products.
The Board remains committed in seeking additional affordable brands to augment the Company's
range of products, through acquisitions and partnerships.
Dividend distribution
The Board has declared a final gross dividend out of income reserves of 125 cents per share in
respect of the year ended 30 June 2023. The South African dividend tax ("DT") rate is 20% and the
net dividend payable to shareholders who are not exempt from DT is 100 cents per share. Adcock
Ingram currently has 169 718 861 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, 12 September 2023
Shares trade ex distribution Wednesday, 13 September 2023
Record date Friday, 15 September 2023
Payment date Monday, 18 September 2023
Share certificates may not be dematerialised or rematerialised between Wednesday, 13 September 2023
and Friday, 15 September 2023, both dates inclusive.
N Madisa AG Hall
Chairperson Chief Executive Officer
Approved by the Board: 22 August 2023
SENS release date: 23 August 2023
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 group annual financial statements which include the unqualified
audit opinion is available at https://senspdf.jse.co.za/documents/2023/JSE/ISSE/AIP/June2023.pdf
and on the Company's website at http://www.adcock.com/investors/financialreports, with the summary
financial statements. Any investment decision should be based on the content of the group annual
financial statements as the information in this announcement does not provide all of the details.
Date: 23-08-2023 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.