Upgrade to boost Enaleni

2008-03-17 00:00

Enaleni, the JSE-listed empowered pharmaceutical company, yesterday revealed that a move to upgrade its 10 000 m2 manufacturing facility in Durban has progressed well, with an additional R50 million being invested in sophisticated machinery.

This follows their decision in June last year to temporarily suspend manufacturing activity at the pharmaceutical facility after it was found that it did not meet certain manufacturing standards.

Enaleni yesterday posted preliminary reviewed results for the year ended December 31, 2007.

Total group profit (after tax) for the year was 27% higher at R131,8 million (2006:

R104,1 million), while total basic EPS came in at 31 cents (2006: 26 cents). Basic headline earnings per share decreased by one percent to 24,7 cents.

Enaleni’s contract manufacturing division made an operating profit of R38,1 million, before incurring abnormal expenses of R25,5 million. "These were incurred due to the redundancy of older plant and machinery in the upgraded manufacturing facility and the board’s decision to temporarily suspend manufacturing in June 2007," the report said.

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