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Bidvest lifts FY18 HEPS despite volatile market

By: Simone Liedtke     3rd September 2018 JSE-listed services, trading and distribution company Bidvest on Monday declared a final dividend of 301c a share, bringing the total dividend for the financial year ended June 30 to 556c, amid a volatile market, which the company said was characterised by weak economic growth and consumer spend,... 

Adcock Ingram’s HEPS rise 25.5%, despite economic, consumer headwinds

By: Simone Liedtke     29th August 2018 JSE-listed Adcock Ingram reported headline earnings per share (HEPS) from continuing operations of 387.7c for the year ended June 30, representing a year-on-year increase of 25.5%. Headline earnings for the period were R644.7-million, up from R513.7-million in the prior financial year. 

Bidvest expects to report up to 22% lower EPS for FY18

By: Marleny Arnoldi     22nd August 2018 JSE-listed services, trading and distribution company Bidvest expects its earnings per share (EPS) for the year ended June 30 to be between 19% and 22% lower at between R1.11 and R1.15 apiece, compared with R1.43 apiece in the prior year. The lower EPS can be attributed to a contraction in the... 

South Africa may ask pharma firms for fee to clear drug review backlog

By: Reuters     9th April 2018 Drugmakers in Africa's largest pharmaceutical market may be asked to pay a "backlog fee" to help clear a pipeline of medicines waiting years for approval, according to a proposal being considered by South Africa's new industry regulator. Delays for hundreds of medicines have kept the latest... 

City of Johannesburg, private sector joins hands in innovative recycling project

By: Megan van Wyngaardt     30th January 2018 Adcock Ingram Critical Care, Netcare, Johannesburg Mayor Herman Mashaba and the City of Johannesburg, this week launched a project that recycles used, nonhazardous intravenous infusion drip bags and tubing made of polyvinyl chloride (PVC) to produce soles for school shoes. As part of the... 

Adcock expects higher H1 earnings

By: Natasha Odendaal     16th January 2018 JSE-listed Adcock Ingram expects double-digit increases in its earnings for the six months ended December 31, the healthcare company announced on Tuesday. Headline earnings a share for the half-year under review is expected to be at least 27%, or 40c apiece, higher than the 148.6c achieved in the... 

Makwana appointed chairperson of Illovo Sugar

By: Natasha Odendaal     30th November 2017 Illovo Sugar South Africa on Thursday announced the appointment of Mpho Makwana as chairperson, effective December 1, succeeding Gavin Dalgleish who stepped down to focus on his role as group MD. Makwana previously co-chaired the World Economic Forum on Africa in 2011 and served as Eskom... 

Mpho Makwana takes over as Gibela chairperson

3rd November 2017 Mpho Makwana has succeeded Dr Xolani Mkhwanazi as chairperson of Gibela Rail Transport Consortium, effective October 1.   Makwana has more than 25 years of experience working in South Africa’s public and private sectors.   He is currently the independent nonexecutive chairperson of ArcelorMittal... 

Adcock Ingram acquires medical products company Genop

By: Schalk Burger     12th September 2017 JSE-listed pharmaceutical company Adcock Ingram has acquired 100% of local medical instrument and pharmaceutical company Genop for an undisclosed amount. Genop is a specialised instrument, surgical and pharmaceutical products company focused on the ophthalmic, optometry, skincare, aesthetic and... 

Bidvest FY17 performance improves, shows resilience, says CEO

By: Natasha Odendaal     28th August 2017 JSE-listed Bidvest improved its financial performance for the year ended June 30, revealing the benefits, particularly within the South African trading operations, of its well-diversified portfolio following its unbundling of Bid Corporation (Bidcorp) - rebranded as Bidfood - last year. As the... 

Adcock Ingram maintains upward earnings trajectory in FY17

By: Natasha Odendaal     25th August 2017 The 2017 financial results of “re-engineered” pharmaceuticals giant Adcock Ingram show continued recovery and positive performance three years after the group embarked on a significant restructure to turn around its fortunes. Adcock’s “satisfying trading performance and exceptional increase in... 

Beverage company appoints new VP

25th August 2017 Earlier this month, multinational beverage and brewing company Anheuser-Busch InBev (AB-InBev) subsidiary South African Breweries (SAB) appointed Doreen Kosi as its legal and corporate affairs VP. 

Adcock expects surge in FY17 earnings

By: Natasha Odendaal     24th July 2017 JSE-listed Adcock Ingram expects continued recovery with a “very satisfying improvement” in earnings per share (EPS) and headline earnings per share (HEPS) for the year ended June 30. The company expects EPS and HEPS for the year under review to surge 220% and 30% respectively to 324.5c and 297.3c. 

SA Vinyls Association Hosts Successful Vinyls Sa 2017 Conference

21st June 2017 The Southern African Vinyls Association (SAVA) hosted a successful Vinyls SA Conference at the Hilton Hotel in Sandton last week.  Delegates representing the leaders of the local PVC industry, the media and other interested parties attended the presentations by international and local experts... 

Competition authorities reach settlement with Adcock, Bidvest

By: Megan van Wyngaardt     15th June 2017 The Competition Tribunal has reached a R2-million settlement with pharmaceuticals group Adcock Ingram with regards to its proposed merger with BB Investment, a wholly owned subsidiary of the Bidvest Group. The Competition Commission earlier referred a complaint to the tribunal, alleging that... 

Adcock Ingram geared for growth after positive H1 results

By: Anine Kilian     22nd February 2017 Each of JSE-listed Adcock Ingram’s business units had posted “solid performances” in the six months to December 31, achieving good growth in turnover and good cost control. The group on Wednesday reported a 70% increase in earnings a share and a 49% increase in headline earnings a share for the... 

Adcock Ingram expects substantial increase in interim earnings

By: Megan van Wyngaardt     20th January 2017 Pharmaceuticals company Adcock Ingram expects its earnings per share (EPS) for the six-month period to December 31, 2016, to be at least 60% higher than the comparative period of 2015. The company noted that the 60c-a-share increase from the EPS of 99.6c reported in the prior year came on the... 

Adcock Ingram sells stake in Ayrton

By: Megan van Wyngaardt     8th December 2016 The Ghana Securities and Exchange Commission (SEC) has approved the sale of South African pharmaceuticals manufacturer Adcock Ingram’s 53% interest in Ghana-based pharmaceuticals company Ayrton Drug Manufacturing. Adcock Ingram noted in June that it would sell this stake to Dannex, another... 

Adcock turns focus from survival to development

By: Natasha Odendaal     26th August 2016 After being in “remedial mode” for the past two years, JSE-listed pharmaceuticals giant Adcock Ingram is eyeing growth and development after generating healthy amounts of cash and accumulating “significant” resources during the year ended June 30. The group, which is progressing the sale of its... 

S.A.M.E. Foundation presents Night of the Stars

3rd June 2016 On the 10th June 2016, the S.A. Medical & Education Foundation will be hosting a donor awards evening at the One & Only hotel in Cape Town. This annual event is hosted in honour of the donors who contributed throughout the previous year and to showcase the amazing transformations that the... 

Bidvest lifts H1 earnings, despite challenging markets; Joffe to step down as group CEO

By: Mia Breytenbach     29th February 2016 Notwithstanding “a backdrop of challenging market conditions, particularly in the Southern African region”, JSE-listed Bidvest’s headline earnings a share rose 13% to R10.02c, while basic earnings a share rose 7.8% to 930.9c for the six months to December 31. Headline earnings rose 14.7% to... 

Adcock reshuffles management

By: Natasha Odendaal     12th November 2015 Following on the momentum gained from several strategic initiatives over the past two years to arrest and reverse plunging earnings, pharmaceutical company Adcock Ingram has reshuffled its board. With the embattled group preparing for its “next phase of growth”, current lead independent director... 

Food division drives H1 profit gain for Bidvest

By: Natalie Greve     2nd March 2015 International investment holding company Bidvest has lifted headline earnings a share by 5.2% to 886.3c for the six months ended December 31, helped by an “excellent” contribution from the group’s Foodservice business and positive currency effects. Bidvest CEO Brian Joffe told investors on Monday... 

Competition Tribunal approves BB Investment, Adcock merger

By: Leandi Kolver     22nd August 2014 The Competition Tribunal on Friday announced that it had approved the merger between pharmaceutical company Adcock Ingram and Bidvest subsidiary BB Investment Company, on condition that Adcock would not retrench any employees for one year from the day the deal was approved. The tribunal pointed... 

Adcock warns of ‘significant reversal’ in operating performance

By: Natalie Greve     5th August 2014 After changing its financial year-end from September 30 to June 30, pharmaceuticals group Adcock Ingram has concluded “with absolute certainty” that the financial results for the nine months ended June 30 will result in a basic and headline loss a share, indicating a “significant reversal” in the... 

Adcock Q2 profit under pressure

By: Leandi Kolver     19th March 2014 Pharmaceuticals company Adcock Ingram on Wednesday announced that its gross profit as a percentage of sales remained under “extreme pressure” during the second quarter of the 2014 financial year as a result of the unfavourable revenue mix, the rand depreciation of more than 20% of its basket of... 

Bidvest delivers higher interim earnings, increased acquisitions

By: Natasha Odendaal     27th February 2014 JSE-listed Bidvest posted “pleasing” results in an interim period marked by higher-than-usual acquisitive activity, Bidvest CEO Brian Joffe said on Thursday. The service, trading and distribution company reported 19% higher revenue and trading profit for the six months to December, with positive... 

Bidvest’s Joffe to chair Adcock

By: Natasha Odendaal     26th February 2014 Bidvest CEO Brian Joffe has been appointed nonexecutive chairperson of pharmaceuticals group Adcock Ingram after Bidvest and the Public Investment Corporation (PIC) demanded the resignation of nonexecutive director and chairperson Dr Khotso Mokhele. Mokhele resigned last week after Adcock... 

Adcock chair resigns as demanded by Bidvest, PIC

By: Leandi Kolver     19th February 2014 Pharmaceuticals group Adcock Ingram on Wednesday announced the resignation of nonexecutive director and chairperson Dr Khotso Mokhele with immediate effect, following letters by Adcock shareholders Bidvest and the Public Investment Corporation (PIC) demanding this. Bidvest held 34.5% of the total... 

Adcock deal could derail after Bidvest hikes its stake 

By: Natasha Odendaal     31st January 2014 JSE-listed Bidvest’s move to challenge Chile-based CFR Pharmaceutical’s R12.8-billion bid for 100% of pharmaceuticals group Adcock Ingram through the acquisition of a further 22% stake in Adcock has put Bidvest in a position to reject the disputed deal. The buy-out of a further 39-million shares... 

Adcock shareholder vote on CFR offer delayed to mid-February

By: Leandi Kolver     9th January 2014 JSE-listed pharmaceutical company Adcock Ingram on Thursday announced that it would further delay a shareholder vote on the increased R12.8-billion takeover offer from Chile’s CFR Pharmaceuticals to mid-February, as it was still awaiting regulatory approval of the relevant shareholder... 

Bidvest attempts R4bn second bid for 34.5% stake in Adcock, threatens legal action

By: Natasha Odendaal     2nd December 2013 JSE-listed Bidvest has moved to challenge Chile’s CFR Pharmaceutical’s R12-billion offer to buy out 100% of pharmaceuticals group Adcock Ingram with a multibillion-rand offer for a 34.5% stake in Adcock. Following an unsuccessful R6.2-billion bid to raise its stake in Adcock to 60% earlier this... 

CFR Pharmaceuticals to acquire Adcock Ingram for R12.6bn

By: Leandi Kolver     15th November 2013 Chile's CFR Pharmaceuticals on Friday made a firm and binding offer to acquire 100% of the issued share capital of JSE-listed Adcock Ingram for R12.6-billion, after the boards of the two companies unanimously approved the agreement. Speaking at a media conference on the transaction on Friday,... 

Geothermal system improves pharmaceutical facility’s energy efficiency

By: Sashnee Moodley     27th September 2013 Pharmaceuticals group Adcock Ingram’s geothermal-based energy management system, used at its high-volume liquids (HVL) Clayville facility, in Johannesburg, has been registered as an entry in the industrial category of State-owned power utility Eskom’s ETA Awards.  

Adcock says CFR'S $1.3bn still top offer

By: Reuters     15th August 2013 South African drug maker Adcock Ingram said on Thursday it has received some unsolicited bids from potential suitors, but none of them have trumped a $1.3-billion takeover offer from Chile's CFR Pharmaceuticals Adcock said it remains in talks with Santiago-based CFR, which last month made a cash... 

Two 3 t steam boilers installed

7th June 2013 Heavy steel engineering company Cyclotherm SA in April installed two 3 t dual-fired steam boilers (Cyclotherm C7000) - which can be fired on gas or light oil - and all ancillary equipment for healthcare company Adcock Ingram’s new high-volume liquid plant in Oliphantsfontein. 

Adcock says Bidvest offer lapsed

By: Natalie Greve     4th April 2013 Bidvest’s proposed scheme of arrangement to acquire a 60% stake in pharmaceuticals group Adcock Ingram has lapsed and there was no indication that a new proposal from Bidvest “will be forthcoming”, Adcock advised its shareholders on Thursday. The proposal was subject to the condition that “by not... 

Adcock says will not support Bidvest scheme of arrangement

By: Natasha Odendaal     2nd April 2013 The independent board of directors of pharmaceuticals group Adcock Ingram on Tuesday said it would not propose a scheme of arrangement to implement the proposed buyout by Bidvest of a 60% stake in the company. JSE-listed Bidvest announced on March 22 that it intended to increase its 2.54% stake... 

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