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Business & Finance

S. Africa's Aspen forecasts 16-18pc sales growth for half year ended December

  • The company, which could produce Johnson & Johnson's COVID-19 vaccine by end-March, said revenue from continuing operations is expected to grow between 16% and 18% for the six months ended Dec. 31.
  • Aspen, which also manufactures active ingredients used in medicines and helps in packaging and filling of final products, is due to report its financial results for half year ended Dec. 31 on March 11.
23 Feb 2021

Aspen Pharmacare on Tuesday forecast sales growth of as much as 18% from continuing operations in the first half of its fiscal year as the South African drugmaker benefited from demand for its treatments, including anaesthetics and blood thinners.

The company, which could produce Johnson & Johnson's COVID-19 vaccine by end-March, said revenue from continuing operations is expected to grow between 16% and 18% for the six months ended Dec. 31.

The company, however said higher costs from restructuring will hurt its headline earnings per share (HEPS) - a key measure of profit for South African companies. HEPS is expected in the range of 557 cents per share and 582.7 cents per share.

Aspen, which also manufactures active ingredients used in medicines and helps in packaging and filling of final products, is due to report its financial results for half year ended Dec. 31 on March 11.