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
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Govt publishes list of high risk countries after mistakes made at the press briefing. Flight Centre's Andrew Stark responds.Read More
'We've seen it with Covid - you need to be agile.' Bruce Whitfield interviews Capitec Bank CEO, Gerrie Fourie.Read More
Most plastic was never intended to be recycled, but we have believed the story for decadesRead More
Investigative journalist Pieter-Louis Myburgh and forensic lawyer Steven Powell comment on the Hawks' corruption crackdown.Read More
Veteran stockbroker David Shapiro schools The Money Show’s Bruce Whitfield on investing post-Covid and into the next few years.Read More
BMW's Heritage Month campaign features a Kwesta hit which samples another band's music. Advertising expert Andy Rice weighs in.Read More
SAA's business rescue practitioners decide to suspend airline operations. Bruce Whitfield gets comment from the experts.Read More
'It's an abnormal report in abnormal times'. Paul Berkowitz (CEO, Hlaziya Solutions) makes sense of Stats SA unemployment figures.Read More
"We aim to do banking differently," says Bettr cofounder Tobie van Zyl. "The traditional banking model is going to evaporate."Read More
Kevin Lings (Chief Economist, Stanlib) opens up about his attitude to money (hopes and fears, successes and failures, etc.).Read More