Edison Investment Research - AFT Pharmaceuticals (AFT) Manufacturing bumps mask global demand

Report

Edison Investment Research

Maxim Jacobs

Manufacturing bumps mask global demand

AFT reported H117 results on 24 November 2016, which marked a slowdown in its previously aggressive growth in preceding periods, largely due to supply issues and a slowdown in demand in New Zealand (NZ$13.5m sales). Despite this, supply issues with partners appear to be resolved, as underlying demand in Australia increased 17% (NZ$14.6m sales), and the demand for Maxigesic in Europe and the Middle East exceeds the expectations of licensing partners (NZ$1.2m sales).

05/12/2016 6 EN

Underlying

AFT Pharmaceuticals

AFT Pharmaceuticals is engaged in the distribution of pharmaceutical products and the development of pharmaceutical intellectual property.

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NZAFTE0001S4 NZX New Zealand

Provider

Edison Investment Research

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.

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Analysts

Maxim Jacobs

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Manufacturing bumps mask global demand

Aft Pharmaceuticals Ltd: 1 director

AFT Pharmaceuticals - Softer H1 on one-offs; recovery expected in H2

AFT Pharmaceuticals - H125 profitability weighed down by one-offs

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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