Price fixing

Author: Reuters|

09 May 2008 00:00

Tiger Brands' Adcock Ingram to pay R53,5m for price fixing

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Tiger expects heps to rise between 10% and 15%.

South African consumer goods group Tiger Brands said on Friday it had agreed to pay an administrative penalty of 53.5 million rand for alleged anti-competitive practices at its healthcare unit.

Adcock Ingram Critical Care, Tiger Brands' healthcare unit, was accused of price fixing in February 2008 and its executive Arthur Barnett was suspended until the investigation were concluded.

Tiger Brands also announced that it expects its second half headline earnings per share and earnings per share to be between 10 percent and 15 percent higher than in the previous period.

Topics: tiger brands, Adcock Ingram Critical Care




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