Go Life (Mauritius) operations profit up 83.64% to USD 894 716 for Q3 2019
We have extracted the financial summary from the third quarter report of Go Life International Limited listed on the Stock Exchange of Mauritius under the share code GOLI.mu. Go Life International is a multi-faceted healthcare company that offers products serving market needs in pharmaceuticals, generics, nutraceuticals, and medical consumables
The following is an excerpt from the Q3 report:
RESULTS COMMENTARY
Profit from operations increased by 83.64% for Q3 to USD 894 716 from USD487 199 in Q2.
Income from associates increased by 46.16% to USD 114 839 (Q3) from USD 78 569 (Q2) and is derived from the associate interest in Bon Health frail care operations.
COMPANY OUTLOOK
Go Life is currently in the process of incorporating medicinal cannabis into its nutraceutical products range. To this end, Go Life is at an advanced stage of negotiating a settlement to acquire a majority stake in Aziza Healthcare and the cultivating division knowns as Choice Organics. An announcement in this regard will follow soon.
The potential acquisition Aziza Healthcare favourably positions Go Life towards bringing innovative ways of accurately administering medicinal cannabis.
Extensive research was conducted on developing channels for Gotha Health Products. To this end, Cosmetic Connection has been identified as an excellent channel for the Gotha range of products. Cosmetic Connection has 40 branches across South Africa, and it is an ideal vehicle to introduce Gotha Health Products to a wider South African market.
Go Life has also recently partnered with The Ingonyama Trust, which represents and manages King Goodwill Zwelithini kaBhekuzulu’s land in KwaZulu Natal, with the aim of increasing the Gotha Health Products preventative medical offering.
The transaction with Ascendis Health Direct, as announced on 4 September 2018, has been delayed due to certain conditions precedent that have not yet been fulfilled. The parties are in the process of resolving the outstanding matters, which are expected to be finalised imminently
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