JOHANNESBURG (Reuters) -South Africa’s Aspen Pharmacare made a full-year loss after tax of 1.1 billion rand ($63 million), it said on Wednesday, citing the impact of a material contractual manufacturing dispute and asset impairments of 4.1 billion rand.
The loss in the year ended June 30 compared to a profit after tax of 4.4 billion rand the previous year. Group revenue edged 1% higher to 43 billion rand.
The dispute, the details of which are subject to contractual confidentiality, relates to a manufacturing and technology agreement with a contract manufacturing customer for mRNA products, Aspen said.
Manufacturing revenue fell 21% to 11.1 billion rand, while normalised earnings before interest, tax, depreciation and amortisation of 668 million rand in constant currency ended 62% lower than the prior year, impacted mainly by the dispute within the finished dose form segment, the company said.
The dispute is the subject of a contractually prescribed adjudication process, Aspen said.
The company declared a gross dividend of 211 cents per share, down 41%.
($1 = 17.5632 rand)
(Reporting by Nqobile Dludla; editing by Barbara Lewis)
Comments