AFT Pharmaceuticals posts $8.4M loss from R&D spending

Company News

by David Chau

AFT Pharmaceuticals (ASX:AFP) has released its half-year unaudited results for the period ended 30 September 2016.  The following figures are in New Zealand Dollars.

The company posted an operating loss of $8.4 million (which is much larger than the $3.5 million loss from the same period last year).

AFT says this loss was because of increased spending on Research and Development, and its launch of additional promoted over-the-counter products in Australia and Singapore.

The company’s operating revenue was $29.8 million, which is a slight 1% increase over the pcp.

As for its outlook, AFT forecasts sales growth to accelerate in the first half of next year, and it expects to return to profit during the 2018 / 2019 financial years.

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