Trading Statement
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/002935/06)
Share code: APN & ISIN: ZAE000066692
("Aspen")
Voluntary Trading Statement
Aspen shareholders are hereby advised that normalised diluted headline earnings per
share (“NDHEPS”), earnings per share and headline earnings per share for the 12
months ended 30 June 2014 are expected to exceed those reported in the comparative
period, ended 30 June 2013, within the following ranges:
Measure Range Notes
NDHEPS 25% to 31% 1
Earnings per share 40% to 46% 2
Headline earnings per share 26% to 32% 3
Notes:
1. NDHEPS comprises diluted headline earnings per share adjusted for specific non-
trading items. NDHEPS is the primary measure used by Aspen to assess its
underlying financial performance.
2. The growth in earnings per share has benefited from capital profits on the sale of
certain non-core products during the year and foreign exchange gains related to
transaction funding, partly offset by the effect of significant transaction costs relating
to new business acquisitions.
3. The growth in headline earnings per share is less than the growth in earnings per
share primarily due to the exclusion of the capital profits from the sale of certain non-
core products in the calculation of headline earnings.
The financial results on which this trading announcement is based have not been
reviewed or reported on by Aspen`s external auditors.
Aspen`s provisional results for the 12 months ended 30 June 2014 are scheduled to be
published on SENS on 10 September 2014.
