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

Paul McBeth
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Quiz FREE
QuiznessDesk, Tuesday, July 05, 2022
The Quizmaster | Tue, 05 Jul 2022

Don't forget to give our daily quiz a go. Good luck

Law & Regulation
Juice magnate Lepionka sues lawyers for 'negligent' advice
Greg Hurrell | Tue, 05 Jul 2022

Businessman Stefan Lepionka's negligence case against Gibson Sheat will be split in two, with the law firm's countersuit to be heard first, the high court has ruled.

Property
George Kerr's Pyne Gould receivership continues
Victoria Young | Tue, 05 Jul 2022

Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.

Sponsored
How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges