AFT posts loss that meets estimates in maiden result as Australian sales overtake NZ

Pattrick Smellie
Tue, 24 May 2016

By Pattrick Smellie May 25 (BusinessDesk) - AFT Pharmaceuticals, the Auckland-based drug developer, posted a $8.9 million operating loss for the year to March 31, its first result since listing on the NZX and ASX last December, and in line with analyst expectations. Total revenue rose 14 percent to $64 million, in part reflecting ongoing fast sales growth in the Australian market of its flagship ibuprofen-paracetamol painkiller, Maxigesic. Australian sales rose 19 percent to $31.2 million while New Zealand revenue rose 5.8 percent to $31....

Try us for 10 days free

Each day we publish 10 to 20 originally-reported news stories on New Zealand business and the political economy.

You also get:

Instant alerts based on any keywords you choose.
A custom library of your saved stories.
An industry-leading search engine

After your trial subscriptions cost $24 a month or $249 a year.

If you don’t like our news service, we make it easy to quit with our one-button cancel.

Find out more

Markets

MARKET OPEN: Kiwi holds its own as greenback falters, US equities push higher

Rebecca Howard | Thu, 06 Aug 2020

The kiwi dollar continues to hold its own as the greenback is weighed down by poor US data while the domestic share market may take cheer from a lift on Wall Street after positive earnings reports. ...

Listed Companies

Billion dollar hotel developments on backburner until better times

Brent Melville | Thu, 06 Aug 2020

Plans for at least 25 major hotel developments, valued at $2 billion, are gathering dust pending decisions on when, or if, construction will commence in the wake of border closures. The two dozen o...

Listed Companies

Pacific Edge seeks US$40m backpay from US administrator

Brent Melville | Thu, 06 Aug 2020

Pacific Edge is chasing 22,000 outstanding invoices dating back to 2015 as it seeks up to US$40 million in backpay from US medical aid administrator Novitas. The retrospective claim follows last mo...

Partner content

Don’t fear the robots. How software can help your business succeed

New Zealand businesses are on the road to recovery from the economic impact of the Covid-19 crisis but they, like corporates around the world, are having to change their operational practices.

Partner content

After covid, contactless is key