Adcock Ingram (AIP) Results Snapshot 1H23

Diluted HEPS improved to 290cps (+19.6% y-y).
Turnover growth, +7.6% y-y.
Group GPM increased by 6bps from 35.0% to 35.1%.
Expense growth of +3.6%, with expenses to sales reducing to 22.4% compared to 23.2% LY.
OPM improved by 93bps to 12.7% (LY: 11.8%).
Interim dividend of 125cps declared.
Net cash fell by 50.5% to R84.3m from R170.3m LY.