Aspen PharmacareEarnings growth fails to wow market

Aspen Pharmacare expected an increase of between 18 percent and 24 percent in diluted normalised headline earnings a share from continuing operations for the year to June, the pharmaceutical firm indicated yesterday. Headline earnings a share would be between 21 percent and 27 percent higher than a year earlier and earnings a share were expected to rise by between 4 percent and 10 percent. Aspen is due to report its annual results on September 12. The company said the lower growth in earnings a share was partly a result of smaller capital profit on the disposal of discontinued businesses this year. Shares fell 2.25 percent to close at R139.73. – Londiwe Buthelezi