AFT Pharmaceuticals - Re-acceleration leveraging its platform
Overcoming COVID-19 headwinds, AFT Pharmaceuticals reported strong FY22 year results, largely driven by management’s ability to leverage its broad infrastructure to launch new products and push through price increases. Revenues increased 15.2% y-o-y to NZ$130.3m, aided by double-digit growth across all regions. Margins benefited from price increases and scale economies. Management has guided for the FY23 operating profit to be in the range of NZ$27–32m (NZ$20.4m reported in FY22) driven by domestic market traction and ramp up in global roll-out of Maxigesic variants. Following this improved operating performance, the company has announced the initiation of a dividend policy (anticipated to be 20–30% of normalised profit after tax starting FY23). We have increased our valuation slightly to NZ$681m or NZ$6.50/share, from NZ$671m.AFT Pharmaceuticals is engaged in the distribution of pharmaceutical products and the development of pharmaceutical intellectual property.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.