Adcock Ingram raises dividend as profit grows by more than 10%

Pharmaceutical manufacturer Adcock Ingram booked profit growth of more than 10% and raised its dividend despite the price of medicines being controlled by the health department’s single exit price (SEP) regulations.

The company, valued at about R9.1bn on the JSE, said on Wednesday in its results for the year to end-June that profit lifted by 12% to R898.4m and headline earnings per share (HEPS), a common profit measure in SA that excludes certain items, by the same margin to 561.3c…