Mayne Pharma Group Limited
(ASX:MYX) has beaten expectations and generated a first half net profit of between $8.2 and $8.4 million.
According to preliminary estimates released, the pharmaceutical company has swung from a net loss to profitability following a strong performance by all operating segments of the business.
Revenue is expected to total between $68 and $71 million for the six months to December 31.
Mayne Pharma says the better-than-expected result has been driven by recent business and product acquisitions, new product launches and more favourable exchange rates.
Shares in Mayne Pharma shot up nearly 7.5 per cent on the news to close at 79 cents.
