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....
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