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Cape Town - After listing on the JSE in November 2013, Ascendis Health released its interim results for the six months ended December 2013.
Revenue is up 114% to R662m and headline earnings is up from -R4m to R54m.
The company made a profit after tax of R56m.
"When I look at these numbers, I am proud of what our team has achieved," said CEO Dr Karsten Wellner.
"Six months ago there were sceptics, but also those who wanted to invest and see if we could deliver."
During the period the company concluded a surgical innovations acquisition and its acquisition of PharmaNatura is pending approval by the Competition Commission.
About 16% of the company's revenue came from outsite South Africa and the company hopes to push this up even more.
"We are looking for more acquisitions with good margings," said CFO Robbie Taylor.
"We are also highly conscious of working capital and capital management is very important to us in all our divisions. We are achieving what we promised and in some cases we even did better."
Wellner described the company as "a health company and a care company, not just a healtcare company".
Part of the company strategy is to extract synergies between divisions and to create organic growth.
"We look at people, plants and animals so we are not just dependant on one area," said Wellner.
"Underlying all is our strategy of internationalisation and building on our strong and resilient brands."
These brands include Solal, Evox, Marltons and Pharmachem.
The company also wants to expand its medical devices division.
"South Africa does not have a strong local manufacturing industry for medical devices and it often has to compete with imports from India or China," said Wellner.
"Our strategy is, therefore, to focus on our brands, but also to look at extracting synergies along the way - including in manufacturing."
He said Ascendis has a strong acquisitions strategy in all divisions, including contacts relating to our first possible international acquisitions.
- Fin24
Revenue is up 114% to R662m and headline earnings is up from -R4m to R54m.
The company made a profit after tax of R56m.
"When I look at these numbers, I am proud of what our team has achieved," said CEO Dr Karsten Wellner.
"Six months ago there were sceptics, but also those who wanted to invest and see if we could deliver."
During the period the company concluded a surgical innovations acquisition and its acquisition of PharmaNatura is pending approval by the Competition Commission.
About 16% of the company's revenue came from outsite South Africa and the company hopes to push this up even more.
"We are looking for more acquisitions with good margings," said CFO Robbie Taylor.
"We are also highly conscious of working capital and capital management is very important to us in all our divisions. We are achieving what we promised and in some cases we even did better."
Wellner described the company as "a health company and a care company, not just a healtcare company".
Part of the company strategy is to extract synergies between divisions and to create organic growth.
"We look at people, plants and animals so we are not just dependant on one area," said Wellner.
"Underlying all is our strategy of internationalisation and building on our strong and resilient brands."
These brands include Solal, Evox, Marltons and Pharmachem.
The company also wants to expand its medical devices division.
"South Africa does not have a strong local manufacturing industry for medical devices and it often has to compete with imports from India or China," said Wellner.
"Our strategy is, therefore, to focus on our brands, but also to look at extracting synergies along the way - including in manufacturing."
He said Ascendis has a strong acquisitions strategy in all divisions, including contacts relating to our first possible international acquisitions.
- Fin24
