Health group Ascendis Health plans a significant change. The company will delist from the Johannesburg Stock Exchange (JSE). It has made a conditional offer to its investors. Ascendis will repurchase shares from them. The market reacted very positively to this news. The company’s stock price surged by 13.4%. This move to delist Ascendis is a key part of its new strategy. The…
Tag: JSE
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Discovery Group’s Strong Growth Delivers 30% Profit Surge
Discovery Group has reported a robust financial performance for the year ending in June. It showcased the Discovery Group’s strong growth with a 30% increase in headline earnings to R9.6 billion. A key milestone in the results was Discovery Bank achieving its first profitable period in the second half of the year. This was a significant achievement reached ahead of…
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Aspen Unlocking Value with New Manufacturing Strategies
Aspen Pharmacare’s CEO, Stephen Saad, has declared that all hands are on deck to overhaul the group’s manufacturing business. He identified the performance of its sterile unit as a significant drag on earnings. This underperformance has caused the market to undervalue the company. This move is part of Aspen’s effort to unlock value for its stakeholders and enhance its market…
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Discovery Profit Surge Indicates Strong Growth Ahead
Financial services giant Discovery Group has signalled a significant increase in profits for the year to end-June. Its banking division reached a significant profitability milestone after years of investment. This achievement contributes to the Discovery Profit Surge. In a trading statement released ahead of its full-year results, the group announced it expects a robust performance across all its business units.…
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Adcock Ingram Reports Flat Profit Despite Winter Surge
Pharmaceutical giant Adcock Ingram has announced flat annual profits despite a significant recovery in the second half of its financial year. This was buoyed by strong demand for its popular over-the-counter winter medicines. In a landmark move, the maker of household staples like Panado and Corenza-C is also set to delist from the Johannesburg Stock Exchange (JSE). This follows a…
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Life Healthcare Declares 235c Dividend for Investors
Private hospital group Life Healthcare has delighted investors by declaring a special cash dividend of 235c per share. This move follows the finalised disposal of the group’s entire interest in its Life Molecular Imaging (LMI) business to Lantheus Radiopharmaceuticals UK. The JSE-listed group confirmed the landmark R13.9bn deal. They committed to returning the proceeds directly to shareholders. Management anticipated closing…
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Bidvest’s Role in Adcock Ingram Takeover Bid
In a striking case of corporate déjà vu, South African pharmaceutical firm Adcock Ingram is once again the subject of a foreign takeover bid. However, the script has been flipped. Bidvest, the conglomerate that positioned itself as the company’s patriotic saviour over a decade ago, is now orchestrating its sale to an overseas partner. This culminates in a patient power…
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Adcock Ingram to Delist Amidst Corporate Changes
Adcock Ingram, the pharmaceutical giant behind household brands such as Panado and Corenza-C, could delist from the Johannesburg Stock Exchange (JSE). This follows a significant deal between its majority shareholder, Bidvest, and Indian drugmaker Natco Pharma. The news saw Adcock’s share price surge by 24%. Under the terms of the agreement, Indian-listed Natco Pharma will acquire a significant minority stake…
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Dis-Chem Grapples with Retail Squeeze and Fierce Competition
Pharmacy and retail giant Dis-Chem is facing a dual threat to its growth ambitions: a critical shortage of suitable retail space. Additionally, the company disclosed in its latest annual report that there is intensifying competition across the healthcare and consumer sectors. The group identified the limited availability of profitable locations as a key risk to its core expansion strategy. This…
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Investing in Hospitals: A Risk Worth Taking
For many investors, the notion of investing capital in the healthcare sector, particularly in hospitals, is counterintuitive. After all, a glance at the 10-year share price performance of South African giants Netcare and Life Healthcare paints a rather grim picture. Both stocks peaked roughly a decade ago, a period characterised by institutional investor pressure for global diversification and a desire…