Aspen Pharmacare silences critics and (Viceroy) rumours, posts stellar results
Aspen Pharmacare reported on Thursday a 26% increase in normalised headline earnings per share to R8.72 in the six months to December.
Revenue climbed by 11% to R21.9 billion in the review period while net profit rose 30% to R3.7 billion.
Aspen makes about 80% of its sales outside of South Africa, which could negatively impact future results if the rand remains strong.
Aspen Pharmacare is Africa’s largest maker of generic drugs.
The Money Show’s Bruce Whitfield interviewed Aspen Pharmacare CEO Stephen Saad.
Saad discussed his company’s results, and reflected on how it responded to rumours of investigations by short-seller Viceroy.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
We never felt vulnerable. We never had off-balance sheet debt…Stephen Saad, Aspen Pharmacare
It’s not your income that matters; it’s your bank account!Stephen Saad, Aspen Pharmacare
We’re happy to use debt, because we’re happy with our cash-flows…Stephen Saad, Aspen Pharmacare
Our profits are matched by cash…Stephen Saad, Aspen Pharmacare
We changed strategy… We’ve learned lessons… We’ve changed tactics… It was a massive switch for us the last four years…Stephen Saad, Aspen Pharmacare
We may be South Africa’s most global company…Stephen Saad, Aspen Pharmacare
We haven’t issued a share since 2009.Stephen Saad, Aspen Pharmacare
We don’t expand for the sake of expanding…Stephen Saad, Aspen Pharmacare
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