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Aspen Pharmacare's fiscal H1 earnings rise 15% YOY

Aspen Pharmacare Holdings Ltd. said its normalized EBITDA rose 15% year over year to 6.3 billion South African rand in the first half of fiscal 2018.

Normalized headline earnings per share for the six months ended Dec. 31, 2017, increased to 871.9 cents from 692 cents in the same period of 2016.

The branded and generic pharmaceuticals manufacturer said revenue for the July-December 2017 period rose 11% year over year to 21.9 billion rand.

The company benefited from growth in its South African pharmaceutical business and the thrombosis brands, comprising anticoagulant medicines, along with inclusion of earnings from the recently acquired AstraZeneca PLC's anesthetics portfolio.

Aspen expects to maintain its first-half sales performance in the second half, even though supply constraints are seen to continue.

The company's performance in the fiscal second-half is also expected to see benefit from the acquisition of additional rights to AstraZeneca's anesthetics portfolio, the Durban, South Africa-based company said in its earnings release.

As of March 7, US$1 was equivalent to 11.89 South African rand.