Mayne Pharma swings to a loss

Company News

by Rachael Jones

Healthcare and logistics company the Mayne Pharma Group (ASX:MYX) reports its adjusted net profit after tax fell 33 per cent on last year’s to $60.3 million from 90.2 million.

It’s revenue is down 7 per cent on the prior corresponding period to $530.3 million from $572.6 million last year.

It’s reported EBITDA is $116.8 million, that’s 48 per cent down from last year’s $224.2 million.

The CEO says the Company has invested $44 million in research and development, and filed eight products with the FDA.

No dividend has been declared for financial year 2018.

Shares in Mayne Pharma Group (ASX:MYX) are trading 4.29 per cent higher to $1.09.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.