Thursday 19th November 2020
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AFT Pharmaceuticals today announces continued growth in revenue and normalised earnings as it benefits from growth across its portfolio of over-the-counter and prescription medicines. It also reports continuing good progress commercialising its Maxigesic pain medication in international markets, despite the Covid-19 challenges.
Group operating revenue for the six months to 30 September 2020 grew by 4% to $48.8 million from $46.9 million in the same period a year ago. Underlying revenue from product sales grew 9% to $48.4 million.
Group operating profit for the six months to 30 September 2020 was $2.4 million, down from the normalised1 $3.9 million operating profit in the same period a year ago. The fall was due primarily to lower license income.
• Operating Revenues increase 4% to $48.8 million with growth in the Australian and Rest of World markets.
• Underlying Operating Revenues from product sales increase 9% to $48.4 million.
• Net Profit After Tax (NPAT) increase of 968% to $1.2 million for the six months following the normalised (NPAT)1$0.1 million for the same period a year ago.
• Maxigesic pain relief registrations up to 46 territories for the oral formulation and 20 territories for the intravenous formulation.
• Maxigesic US FDA complete response letter indicating final approvability of Maxigesic tablets in US subject to Good Manufacturing Practice (GMP) inspection.
• Equity Raise of $12 million to reduce debt facility and fund anticipated growth.
• Operating profit forecast for the year to 31 March 2021 remains in the $14 to $18 million range.
See the links below for more details:
Source: AFT Pharmaceuticals Limited
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