JSE-listed pharmaceuticals company Aspen has advised shareholders that its normalised headline earnings per share (NHEPS) from continuing operations for the six months ended December 31 are likely to be between 798c and 825c, which is 18% to 22% higher than the NHEPS of 676c reported for the six months to December 31, 2020.
Headline earnings per share (HEPS) will be 34% to 38% higher, at between 758.7c and 781.3c, while earnings per share (EPS) will be 29% to 33% higher, at between 720.3c and 742.6c.
"NHEPS is the primary measure used by management to assess Aspen’s underlying financial performance. Growth in NHEPS is lower than growth in HEPS and EPS primarily as a result of reduced normalisation adjustments in the current year relating mainly to restructuring costs and transaction-related costs which do not impact the growth in HEPS or EPS," the company says.
"The stronger South African rand, relative to the comparative period, diluted the growth in all earnings measures and, accordingly, the growth in constant exchange rate earnings measures is higher than the reported earnings growth as set out above."
Aspen expects to publish its interim results on March 9.