AFT Pharmaceuticals - Growth despite COVID-19 challenges
AFT Pharmaceuticals recently reported its results for the first half of FY21. Operating revenue grew by a strong 4% year-on-year to NZ$48.8m driven mainly by 11% growth in Australia and despite the impact of COVID-19 across the business. Reported group operating profit was NZ$2.4m compared to NZ$13.7m in the same period a year ago (NZ$3.9m if a one-time gain of NZ$9.8m from the first half of FY20 is excluded). Importantly, AFT continues to guide to operating profit of NZ$14–18m in FY21.AFT Pharmaceuticals is engaged in the distribution of pharmaceutical products and the development of pharmaceutical intellectual property.
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