May 15, 2020 / 7:00 AM / 20 days ago

UPDATE 1-South Africa's Aspen says comfortable with liquidity position; backs profit view

(Adds details on the forecast, strategic review)

May 15 (Reuters) - South Africa’s Aspen Pharmacare Holdings Limited on Friday maintained its profit forecast for the year and said it was comfortable with its liquidity position amid uncertainties stemming from the novel coronavirus outbreak.

The South African company said it expected the normalised headline earnings per share (HEPS) from continuing operations in 2020 to be higher than the previous year.

HEPS is the most widely used profit measure in South Africa.

The outlook for 2020 will be updated if deemed necessary as more information becomes available, Aspen said.

The company also expects to decide on a course of action for its strategic review and restructuring of its Europe CIS business by September, it said.

The restructuring of the thrombosis business in Europe CIS has helped in the unit’s recovery, Aspen said.

The company is scheduled to release its annual result on Sept. 9. (Reporting by Aakash Jagadeesh Babu in Bengaluru; editing by Uttaresh.V and Anil D’Silva)

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