PharmaZen annual profit jumps on lower dollar

Mon, 04 Apr 2016

By Edwin Mitson April 4 (BusinessDesk) - PharmaZen, the Christchurch-based animal and human nutrition manufacturer, saw profits jump in 2015 off the back of a lower New Zealand dollar as it ramped up spending on research and development. While sales rose 5.3 percent to $7.1 million for calendar 2015 from $6.7 million in 2014, gross profit increased by 35 percent to $2.8 million from $1.9 million, according to the company's annual report. PharmaZen has in previous years bemoaned the high value of the New Zealand dollar and described its we...

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