File pic Photo: 123rf
Maxigesic manufacturer AFT Pharmaceuticals has upped its full year profit outlook, but the upgrade masks a 25 percent drop in its trading peformance.
The company raised its forecast to include a US$6 million (NZ$9.8m) licence fee payment from its United States licensee of Maxigesic IV product.
It now expected to make an full year underlyng profit of between $23m to $25 million, compared with an earlier forecast of $19.7m in the year ending in March.
However, Forsyth Barr analyst Matt Montgomerie said the underlying profit forecast was down 25 percent from the earlier forecast, when the licence fee was excluded, at between NZ$14m-to $16m.
The company still expected to pay a full year dividend.