AFT Pharmaceuticals Limited (ASX:AFT) Announces Half-Year Results
Financial Performance Overview
AFT Pharmaceuticals Limited (ASX:AFT) reported an increase in revenue for the six months ending September 30, 2024. Revenue from continuing operations rose to NZ$86.7 million, marking a 4% increase compared to the same period in the previous year. However, the company experienced a net profit decline, reporting a net profit of NZ$1.8 million, which reflects a significant drop of 155%.
Dividend Declaration
The company declared an interim dividend of NZ$0.016 per quoted equity security, with an imputed amount of zero. Investors should note that the record date for the dividend is set for June 20, 2024, with payment expected on July 4, 2024.
Operational Insights
AFT Pharmaceuticals continues to uphold its compliance with the NZX Listing Rules, reaffirming its commitment to operational integrity. CEO Malcolm Tubby stated, “The increase in revenue showcases our ongoing business growth, despite the challenges faced within the profit margins.”
Future Outlook
The company is focused on navigating the landscape to enhance profitability while maintaining revenue growth. AFT Pharmaceuticals remains optimistic about future performance as it continues with its strategic initiatives.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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