Aspen Pharmacare's profits tumble with R1.1bn loss

Image credit: Christina Victoria Craft on Unsplash

The loss in the year ended 30 June compared to a profit after tax of R4.4bn the previous year. Group revenue edged 1% higher to R43bn.

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.

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Manufacturing revenue fell 21% to R11.1bn, while normalised earnings before interest, tax, depreciation and amortisation of R668m 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%.