Aspen revenue up by 14%

2008-02-27 00:00

Witness Reporter

JSE-listed Aspen, Africa’s largest pharmaceutical manufacturer, this week recorded positive results for the period ended December 2007.

The SA business grew revenue by 14% to R1,77 billion (from R1,55 billion), whilst earnings before interest, tax and amortisation increased by 17% to R577 million (from R493 million).

Finished dosage form pharmaceuticals performed well, increasing revenue by 21%, but this was tempered by negative growth in the active pharmaceutical ingredient business and in the trading results of the consumer division.

The consumer division increased revenue by three percent and the division in SA remains vulnerable to the retail cycle. The downturn in the cycle was compounded by the discontinuation of a range of laxatives due to the banning of phenolphthalein.

Margins came under pressure due to a sharp rise in the price of the critical ingredients for infant nutritionals arising from a worldwide shortage of milk.

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