Ascendis flags huge profit swing due to restructuring and finance costs
Although its core businesses have grown profits, finance costs have doubled, while the health group has warned of hefty transaction costs
25 March 2021 - 14:27
Health group Ascendis, which is battling with a hefty debt pile far exceeding its market capitalisation, has warned of an almost R200m swing in headline profit, as it grapples with a crushing debt position.
Ascendis is valued at only R235m on the JSE, and has businesses in the consumer health, pharmaceutical and animal health categories. It has recently caught the attention of private equity groups interested in its assets and who have snapped up most of its debt vehicle...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.