Aspen Pharmacare sells its infant milk formula business for R12.9 billion

Aspen Pharmacare on Thursday said it would sell its Nutritionals business to the French dairy firm Lactalis Group for R12.9 billion.

Africa’s largest drug company increased revenues by 3% to R42.6 billion in the year to 30 June.

Normalised headline earnings per share were up 10% to 1605 cents.

It declared a dividend of 315 cents per ordinary share.

Ray White (in for Bruce Whitfield on The Money Show) interviewed Aspen Pharmacare CEO Stephen Saad.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

No one loses jobs here. It’s just the most unbelievable offering… The buyer doesn’t have a position in infant milk formulas… The employees are better off in this environment…

Stephen Saad, Aspen Pharmacare

We’re outperforming our peers in almost every facet of the business…

Stephen Saad, Aspen Pharmacare

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Aspen Pharmacare sells its infant milk formula business for R12.9 billion


Recommended

by NEWSROOM AI
Read More
'Capping fuel price will harm transformation, jobs and won’t benefit consumers'

'Capping fuel price will harm transformation, jobs and won’t benefit consumers'

The Money Show’s Bruce Whitfield interviews PetroConnect cofounder Sbonelo Mbatha.

3 risks to your retirement savings (and how to mitigate each of them)

3 risks to your retirement savings (and how to mitigate each of them)

Only 5% of South African retirement fund members will retire comfortably. Bruce Whitfield interviews advisor Warren Ingram.

'Constitutional change is not about land reform. It’s about the election'

'Constitutional change is not about land reform. It’s about the election'

Bruce Whitfield interviews political economist Nic Borain and Cas Coovadia, MD at the Banking Association of South Africa.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

Popular articles
[LISTEN] Why Zuma has filed for permanent stay of prosecution

[LISTEN] Why Zuma has filed for permanent stay of prosecution

Zuma’s lawyers were given until Friday to submit the application to bring to a halt his corruption trial after many delays.

[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

Dr Eve discusses cervical cancer and how it can be prevented.

Angry customer stops at nothing to expose bad service at upmarket hotel

Angry customer stops at nothing to expose bad service at upmarket hotel

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

Motorist who killed two goslings has been identified

Motorist who killed two goslings has been identified

According to the SPCA, he will be charged with contravention of the Animal Protection Act.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

Group distances itself from N2 car spinners caught on film

Group distances itself from N2 car spinners caught on film

It turns out that the petrol heads who span cars on the N2 were part of the SA Torque Cape Town Breakfast Run.

Uber customer threatened with hockey stick by driver

Uber customer threatened with hockey stick by driver

An Uber customer shares how she was threatened by an Uber driver with a hockey stick after a disagreement.

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

The Money Show’s Bruce Whitfield interviews Rain CEO Willem Roos for his weekly “ShapeShifter” feature.