AFT Pharmaceuticals has reported financial results for the six months ending September 2023, showing strong growth in sales of over-the-counter medicines in Australasia and increasing demand in international and Asian markets.
Operating revenue increased by 27% to $84 million, driven by growth in product sales and royalties.
Sales in international and Asian markets (excluding licensing income) rose by 94%.
Operating profit decreased by 6% due to ongoing investments in research and development and marketing.
Net profit after tax increased by 17% to $1.8 million.
The company received approval for the sale of Maxigesic IV in the US and Crystaderm in China, setting the stage for future launches in these markets.
AFT Pharmaceuticals aims to achieve a revenue target of $200 million in the next twelve months and maintains its guidance for operating profit of $22 million to $24 million for the full year.
See more
