AFT Pharmaceuticals - 14% revenue growth despite COVID-19 headwinds

AFT Pharmaceuticals recently reported its results for H122. Operating revenue grew strongly by 14% year-on-year to NZ$55.5m, despite the impact of COVID-19 across the business (extended lockdowns in Australia and delayed launches in international markets were the biggest COVID-related headwinds). Reported group operating profit was NZ$5.5m compared to NZ$2.4m in the same period a year ago. Importantly, AFT is continuing to guide for operating profit of NZ$18–23m in FY22.