Diluted HEPS 285.6cps (+0.8% y-y).
Turnover growth +1.4% y-y to R4.7bn.
Group GPM declined by 110bps to 34.0%.
Expenses declined by -2.1% y-y, with expenses-to-sales reducing to 21.6% (1H23: 22.4%).
OPM declined by 30bps to 12.4% (1H23: 12.7%).
Dividend of 125cps.
Net cash fell to -R75m (1H23: R84m).
AIP repurchased 1.7m shares during the period.
Organic volumes declined by 10.0% in the Consumer segment due to the challenging economic environment.
The OTC segment was impacted by inventory supply challenges due to the Durban port congestion.
Sales in the Hospital segment improved by 5.1%, with organic volumes up 3.0%. This was aided by the 3-year Large Volume Parenterals (LVP) tender awarded on 1 October 2023.
AIP is encouraged by the SEP of 6.79% awarded for 2024, which will help to alleviate pressure caused by the weak Rand.
