March 11, 2020 / 6:14 AM / a month ago

BRIEF-Ascendis Health Says HY Normalised HEPS For Cont Ops At 35.1 CPS

March 11 (Reuters) - Ascendis Health Ltd:

* HY GROUP REVENUE UP BY 12% TO R3.9 BILLION

* HY NORMALISED HEPS FOR CONTINUING OPERATIONS 9% DOWN AT 35.1 CPS

* HY HEADLINE EARNINGS PER SHARE WAS 24.5 CENTS

* SALE OF NON-CORE ASSETS IS BEING ACCELERATED AND GROUP IS COMMITTED TO MAXIMISING VALUE FROM SALE OF BUSINESSES

* IDENTIFIED MEASURES TO REDUCE COSTS AND IMPROVE LIQUIDITY BY BETWEEN R55 MILLION AND R125 MILLION OVER NEXT 12 MONTHS

* MEASURES TO REDUCE COSTS INCLUDES HEADCOUNT FREEZE, LIMITATION ON TRAVEL, CONSOLIDATION OF OFFICE SPACE ACROSS MULTIPLE OFFICES

* IMPAIRMENT LOSS OF R24 MILLION WAS RECOGNISED FOR ASCENDIS DIRECT SELLING OWING TO DETERIORATION IN TRADING RESULTS IN HY

* MEASURES TO CUT COSTS INCLUDE DEFERRAL OF SOME CAPEX, INVENTORY REDUCTION, BETTER GOVERNMENT DEBTOR COLLECTION, CUT IN MARKETING EXPENSES

* MANAGEMENT IDENTIFIED MEASURES TO REDUCE COSTS & IMPROVE LIQUIDITY BETWEEN R55 MILLION AND R125 MILLION OVER THE NEXT 12 MONTHS Source text for Eikon: Further company coverage:

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