AFT shares climb 11% as profit more than doubles

AFT shares climb 11% as profit more than doubles
CEO, executive director and co-founder of AFT, Dr Hartley Atkinson, is the face of its Maxigesic TV adverts. (Image: AFT)
Staff reporters
AFT Pharmaceuticals shares climbed 11.2% after the maker of painkiller Maxigesic more than doubled its annual profit and signalled it will start paying dividends next year. Net profit rose to $19.8 million in the 12 months ended March 31, from $7.8m a year earlier, on a 15.2% increase in revenue to $130.3m. Operating profit rose 90.7% to $20.4m, in line with the firm’s forecast for earnings to between $18m and $23m. The company said it enjoyed a stronger second half as covid-19 became more endemic and nations eased restrict...