ASCENDIS HEALTH LIMITED - Postponement of release of Annual Results and Voluntary Trading Statement

Release Date: 07/09/2018 17:35
Code(s): ASC
 
Wrap Text
Postponement of release of Annual Results and Voluntary Trading Statement

Ascendis Health Limited
(Incorporated in the Republic of South Africa)
(Registration number 2008/005856/06)
Share code: ASC
ISIN: ZAE000185005
(“Ascendis” or “the group”)


POSTPONEMENT OF RELEASE OF ANNUAL RESULTS AND VOLUNTARY TRADING
STATEMENT


Postponement of release of annual results

Shareholders are advised that the group’s annual results for the year ended 30 June 2018, which were
scheduled to be released on 11 September 2018, will now be released on SENS on 25 September
2018.

The postponement is due to unexpected delays in finalising the annual results following the
implementation of a new financial reporting system late in the financial year.

The board and management apologise for the inconvenience caused by the delay in the release of the
results and the related investor presentations. The annual results and strategy presentations will now
be held in Johannesburg on 25 September 2018 and in Cape Town on 26 September.

Voluntary trading statement for the year ended 30 June 2018

Ascendis shareholders are advised that the group’s earnings for the year ended 30 June 2018 are
anticipated to be within the following ranges:

 Continuing Operations                           12 months ended     12 months ended
                                                    30 June 2018        30 June 2017       % increase
                                                                          Reported
 Basic earnings per share                     96.4 – 102.9 cents          85.9 cents        12% – 20%

 Headline earnings per share                 102.7 – 109.2 cents          90.8 cents        13% - 20%

 Normalised headline earnings per share      157.8 – 164.3 cents         156.4 cents          1% – 5%


 Total Operations                                12 months ended     12 months ended          %
                                                   30 June 2018        30 June 2017       (decrease)/
                                                                         Reported          increase
 Basic earnings per share                      55.7 – 62.2 cents         68.7 cents       (19%) – (9%)

 Headline earnings per share                   74.5 – 81.0 cents         80.1 cents         (7%) - 1%

 Normalised headline earnings per share      132.3 – 138.8 cents        145.7 cents        (9%) - (5%)


Notes
1.      As announced on SENS on 25 June 2018, the group has disposed of Ascendis Sports Nutrition
        South Africa and Ascendis Direct Selling and these businesses have been classified as
        discontinued operations.

2.      The results include the acquisition of Kyron Laboratories (“Kyron”) with effect from 1 March
        2018.
                                                                                                   
3.      Normalised headline earnings per share from continuing operations comprise headline
        earnings per share from continuing operations adjusted for once-off costs of approximately
        R83 million (R177 million in the comparative period to June 2017) as well as amortisation costs.
        Shareholders are referred to the annual financial statements for the financial year ended
        30 June 2017 for further information in respect of the normalisation adjustments.

4.      Shareholders are reminded of the clarification provided by the Company on SENS on
        1 February 2018 clarifying the amendment in its methodology in calculating normalised
        earnings per share. This change in methodology was not applied to the comparative normalised
        earnings per share figure presented above for the year ended 30 June 2017. Should the
        company have applied the revised methodology to the comparative figure, the normalised
        earnings per share from continuing operations for the year ended 30 June 2017 would have
        been 144.8 cents per share.


The financial information on which this trading statement is based has not been reviewed or reported
on by the group’s auditors.



7 September 2018
Johannesburg

Sponsor
Questco Corporate Advisory (Pty) Ltd




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