Global operations lift Aspen’s earnings

SOUTH Africa’s biggest drugs manufacturer, Aspen Pharmacare, on Thursday reported a 14% rise to 423.6c in diluted headline earnings per share for the six months to December, as growth in its international business compensated for the pressure facing its domestic operations.

Its performance stood in stark contrast with that of rival Adcock Ingram, which had failed to diversify geographically, said analysts. In November, Adcock reported a 17% drop in headline earnings per share to 350.5c for the year to September 30, down from 422c the previous year, as the weak rand and tough trading conditions took their toll.

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