AFT first-half net profit fell 66%, even as sales lifted 18%

Chair David Flacks said it's appropriate to invest more to spur growth. (Image: Supplied)

Thu, 24 Nov 2022

AFT Pharmaceuticals' first-half net profit fell by 66% despite a more than 18% jump in revenue and a 30% growth in product sales and royalties, and it downgraded guidance for the full year.AFT also downgraded guidance provided in May and now expected operating profit of between $18 million and $23m for the full year ending March 2023, down from between $27m to $32m, saying that reflected growth investments and deferred license income due to the delay in Maxigesic IV getting US registration.However, the company is still expecting to pay a ma...

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