Sharechat Logo

AFT Pharmaceuticals Limited (NZX: AFT) Updates Earnings Guidance

Thursday 1st April 2021

Text too small?

AFT Pharmaceuticals today revises its guidance on its financial results for the year to 31 March 2021 following a number of COVID-19 related delays to licensing negotiations and disruptions to the company’s global supply and distribution networks.

AFT expects revenue for the 2021 financial year to be around $110 million, representing an uplift on the prior year’s $105.6 million. Operating profit for the period is expected to be between $ 9 million and $11 million, compared with the prior year’s equivalent figure of $11.4 million , lower than the guidance affirmed in November 2020 of $14 million to $18 million.

AFT Managing Director Dr Hartley Atkinson said: “We are disappointed to be revising our guidance, a move which, to a large extent, reflects delays to licensing negotiations we expected to conclude in the 2021 financial year.

“Indeed, despite the pandemic we have concluded eight new licensing agreements, covering 22 territories for Maxigesic IV® pain relief medicine and four new agreements covering four territories for the oral form of the medicine. As announced earlier in March, Pascomer, has been licensed in 30 countries across Europe.

“These achievements represent significant progress in trying circumstances and, importantly, continue to strengthen AFT’s capacity to build on its record for consistently delivering year-on-year sales growth,” said Dr Atkinson.

“We look forward to providing more detail when we release our audited financial results in May.”

Please see the link below for details:

AFT updates earnings guidance

Source: AFT Pharmaceuticals Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Pacific Edge Limited (NZX: PEB) Placement Upsized Following Strong Demand
24th September 2021 Morning Report
23rd September 2021 Morning Report
Pacific Edge Limited (NZX: PEB) Dual Lists on ASX; Announces Capital Raise to Accelerate
Tower Limited (NZX: TWR) Updates Guidance
South Port New Zealand Limited (NZX: SPN) 2021 Annual Report
22nd September 2021 Morning Report
Kathmandu Holdings Limited (NZX: KMD) FY21 Annual Results Announcement
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Update on Demerger and Office Fund
21st September 2021 Morning Report