AFT sees breakeven in FY19 after narrowing annual loss on Australian sales growth

Tue, 22 May 2018

By Paul McBeth May 23 (BusinessDesk) - AFT Pharmaceuticals narrowed its 2018 loss and expects to break even in the 2019 financial year as it dials back spending on research and development and lifts sales. The Auckland-based maker of the Maxigesic painkiller reported a loss of $12.7 million, or 13 cents per share, in the 12 months ended March 31, compared to a loss of $18.4 million, or 19 cents, a year earlier. Operating revenue climbed 16 percent to $80.1 million, of which Australian sales jumped 33 percent to $49.2 million due to over t...

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