The company ended the quarter with ~$2.8 million in cash (excluding net receivables
of ~$330,000) and is well-positioned financially to continue the growth and development of the business.
The strengthening of the solvency is notably the result of an efficient cash collection, resulting in a reduction of more than 50 per cent of the net receivables
and an increase of the free cash flow of over AED400mn, de-risking investment portfolio as well as reserves strengthening, he said.
Health care company Johnson & Johnson (NYSE:JNJ) reported on Monday the completion of the sale of its Advanced Sterilization Products (ASP) business for an aggregate value of approximately USD2.8bn in of cash proceeds and USD0.1bn of retained net receivables
As at December 31, 2018, the net receivables
position reduced by 39% to $140 million, the lowest level since 2011, it said.
Group operating efficiencies included a reduction in the Company's total debt, a substantial reduction in net receivables
, significant inventory rationalization and a reduction of employee costs driven by improved headcount efficiency.
Its net receivables
grew at a CAGR of 40% in the five years to end-2017, much higher than the financing industry's 7% growth.
Johnson & Johnson announced that it has received a binding offer from Fortive Corporation to acquire its Advanced Sterilization Products (ASP) business, a division of Ethicon, Inc., for an aggregate value of approximately $2.8 billion, consisting of $2.7 billion of cash proceeds from Fortive and $0.1 billion of retained net receivables
. ASP is a global leader in innovative infection prevention solutions with 2017 net revenue of approximately $775 million.
Johnson & Johnson (JNJ) announced that it has received a binding offer from Fortive Corporation (FTV) to acquire its Advanced Sterilization Products business, a division of Ethicon, Inc., for an aggregate value of approximately $2.8B, consisting of $2.7B of cash proceeds from Fortive and $100M of retained net receivables
. ASP is a global leader in innovative infection prevention solutions with 2017 net revenue of approximately $775M.
of NLC for both the projects stand at Rs2.834 billion.
The average solvency ratio took a sharp dive from 16.2% to 11.9% on account of the significant increase in lending to the economy and the deterioration of the loan books, with gross receivables representing 23.2% of gross loans at the end of 2015, compared to 14.5% at the end of 2014 (net receivables
provisions representing 12.1% of net loans, compared to 6.6% at the end of 2014).
Arqaam Capital predicts one off gains for the group between EGP 1.9bn and EGP 3.1bn in net receivables
of hard currency as a result of the fast track project instalments the group is expected to receive.
31, 2015, the gross receivables from the failed corporate asset management estates were $6.2 billion, and the related allowance for losses was $4.1 billion, for net receivables
from the AMEs of $2.1 billion.