AFT blames covid for up to 50% profit downgrade

Staff reporters
Thu, 01 Apr 2021

AFT Pharmaceuticals has downgraded its profit guidance by as much as 50% and blames that on delays to licensing negotiations, hampered by the covid pandemic.The company now expects operating profit will come in between $9 million and $11m for the year ended yesterday compared with its November guidance of $14m to $18m."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," said founder and managing director Hartley...

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