Healthcare group Ascendis saw a drop in its profit in its interim results as management continued to trim the business amid a shift in its balance sheet, including selling its pharma segment and paying off its debt.
The company, valued at R386m on the JSE, said in its results for the six months endedDecember that gross profit, revenues minus the cost of sales, declined 8.6% to R311.9m, while profit for the period, helped by its discontinued operations, fell 41% to R189.9m...
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Ascendis could cut parts of the business providing ‘inadequate’ returnThe healthcare group’s balance sheet has undergone significant changes as it paid off debt
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