Health and wellness firm Ascendis Health, which has twice delayed its results to end-June, warned on Tuesday it swung into a loss after suffering impairments that are almost double its market capitalisation.
The company's share price slumped 9.91% to R4.18 on Tuesday morning, putting it on track for its worst one-day performance in seven months. As a result of the economic headwinds in SA and Europe, an extensive valuation process was completed, which resulted in a total impairment across goodwill, intangible assets and property, plant and equipment of approximately R4.2bn, the company said.
Ascendis, which has a market capitalisation of R2.2bn, said it had seen lower sales in SA due to liquidity constraints and supply challenges. Along with the depressed consumer environment, earnings declined in all businesses except animal health, it said.Ascendis expects a headline loss from continuing operations of between R475m and R495m compared to the prior period's headline earnings of R100m.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mental health reforms in limbo 3 years since Esidimeni tragedySome experts are calling for mental health reforms in South Africa following shocking figures presented in parliament and a new report on mental health spending.
Source: City_Press - 🏆 7. / 72 Read more »
Health Spas Guide - South Africa - spas, hydros and wellness centresGET EXCLUSIVE BENEFITS WITH THE CITIZEN PREMIUM! As a Premium member, you will receive a R100 coupon to use when you buy a voucher to the value of R250 or more. Members will receive one coupon per month. To join visit
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Health-e: Op-Ed: Big Tobacco uses dirty tricks to contest draft billFrom disputing public health facts, producing and promoting misleading research — to even smuggling, the tobacco industry has seen success from its dirty tactics in many other countries. South Africans must be vigilant to ensure that the industry doesn’t succeed here.
Source: dailymaverick - 🏆 3. / 84 Read more »
Health products regulator receives 95 applications to cultivate dagga - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The South African Health Products Regulatory Authority (SAHPRA) says it has received at least 95 applications country-wide for the cultivation of dagga for medicinal purposes.%% My concern with this dagga cultivation is the negative consequences that it will have on the fight against drugs. There's a possibility that some people will hide behind health reasons and become serious consumers of this product.
Source: SABC News Online - 🏆 32. / 51 Read more »
Gauteng Health working on decreasing waiting period for surgeries - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Gauteng Health MEC, Bandile Masuku, says the department is working towards decreasing the waiting period for surgeries at public hospitals. How about GautengHealth HealthZA reducing the medical malpractice rates as well.. Litigations, Cost Orders, Court Cases cost the country millions annually
Source: SABC News Online - 🏆 32. / 51 Read more »
Mmusi Mokete's passing leaves Lesotho's health fraternity reeling - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The health fraternity in Lesotho is reeling from the loss of a medical giant. Dr. Mmusi Mokete boasted an illustrious career spanning over 40 years and was bestowed accolades of the highest honour.
Source: SABC News Online - 🏆 32. / 51 Read more »