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2/22/2017 7:09:00 AM

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AIP: ADCOCK INGRAM HOLDINGS LIMITED - Unaud.../02
   
                                                                                                        Unaudited        Unaudited      Audited
                                                                                                       six months       six months         year
                                                                                                            ended            ended        ended
                                                                                                      31 December      31 December      30 June
                                                                                                             2016             2015         2016
                                                                                                            R'000            R'000        R'000
6   INVENTORY
    The amount of inventories written down recognised as an expense in profit or loss:
    Continuing operations:
    Cost of sales                                                                                          18 896           17 992       63 986
    Discontinued operations:
    Cost of sales                                                                                             304                -        4 616
                                                                                                           19 200           17 992       68 602
7   CAPITAL COMMITMENTS
    - Contracted                                                                                           52 216           12 460       11 362
    - Approved, but not contracted                                                                        148 847           13 083       38 577
                                                                                                          201 063           25 543       49 939
8   HEADLINE EARNINGS
    Headline earnings is determined as follows:
    Continuing operations
    Earnings attributable to owners of Adcock Ingram from total operations                                280 943          166 662      168 801
    Adjusted for:
    (Profit)/Loss attributable from discontinued operations (refer note 4.1)                             (39 903)          (7 884)      203 403
    Earnings attributable to owners of Adcock Ingram from continuing operations                           241 040          158 778      372 204
    Adjusted for:
    Impairment of intangible assets                                                                             -                -        3 149
    (Profit)/Loss on disposal/scrapping of property, plant and equipment                                      (1)              255          888
    Tax effect on loss on disposal of property, plant and equipment                                             -              (7)         (23)
    Adjustments relating to equity accounted joint ventures                                                     -                -          211
    Headline earnings from continuing operations                                                          241 039          159 026      376 429
    Discontinued operations
    Profit/(Loss) attributable to owners of Adcock Ingram from discontinued operations                     39 903            7 884    (203 403)
    Adjusted for:
    Impairment of held-for sale assets                                                                          -                -      207 971
    Profit on sale of discontinued operations                                                            (34 758)                -            -
    Profit on sale of intangible asset                                                                          -                -        (320)
    Loss on disposal/scrapping of property, plant and equipment                                               975                -           70
    Headline earnings from discontinued operations                                                          6 120            7 884        4 318
9   SHARE CAPITAL                                                                                            '000             '000         '000
    Number of shares in issue                                                                             175 748          175 748      175 748
    Number of treasury shares held                                                                        (4 285)          (9 454)      (4 285)
    Net shares in issue                                                                                   171 463          166 294      171 463
    Headline earnings and basic earnings per share are based on:
    Weighted average number of shares                                                                     166 294          167 219      166 485
    Diluted weighted average number of shares                                                             166 294          167 492      166 485
CORPORATE INFORMATION
DIRECTORS
Mr A Hall (Chief Executive Officer)
Prof M Haus (Independent Non-executive Director)
Dr B Joffe (Independent Non-executive Deputy Chairman)
Dr T Lesoli (Independent Non-executive Director)
Ms B Letsoalo (Executive Director)
Mr M Makwana (Independent Non-executive Director)
Dr C Manning (Non-executive Director)
Dr A Mokgokong (Non-executive Director)
Ms D Neethling (Chief Financial Officer)
Mr L Ralphs (Non-executive Director)
Mr C Raphiri (Independent Non-executive Chairman)
Mr M Sacks (Independent Non-executive Director)
Dr R Stewart (Independent Non-executive Director)
COMPANY SECRETARY
NE Simelane
22 February 2017
REGISTERED OFFICE
1 New Road, Midrand, 1682
POSTAL ADDRESS
Private Bag X69, Bryanston, 2021
TRANSFER SECRETARIES
Computershare Investor Services Proprietary Limited
Rosebank Towers, 15 Bierman Avenue, Rosebank, Johannesburg, 2196
PO Box 61051, Marshalltown, 2107
AUDITORS
Ernst & Young Inc.
102 Rivonia Road, Sandton, 2146
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
Forward-looking statements
Adcock Ingram may, in this document, make certain statements that are not historical facts and relate to analyses and other information
which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future
prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements
regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. Words such
as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour" and "project" and similar expressions are intended to
identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections
and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove
incorrect, our actual results may differ materially from those anticipated. Forward-looking statements apply only as of the date on which they
are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
www.adcock.com
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