Ascendis Health, whose shares have been battered over concerns about debt, weak organic growth and forced share sales by its anchor investor, says its debt position worsened in the six months to end-December.
The company said group revenue in the interim period rose 3% to R4bn. A 1% decline in sales from SA was offset by a 7% increase in international sales, which now account for half the group’s revenues. The remaining business in that division “may be considered for disposal in the short to medium term”.
“The board is involved in ongoing negotiations regarding the potential disposal of Remedica and has extended the process to include other potential bidders,” it said.
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