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AFT pharmaceuticals Working to improve your health Market release 18 November 2021 UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR TO 30 SEPTEMBER 2021 AFT reaffirms guidance and progresses growth plan HIGHLIGHTS * • Revenue rises 14 % to $ 55.5 million from $ 48.8 million despite multiple COVID - 19 challenges Growth led by International ( + 74 % ) , New Zealand ( + 15 % ) and Asia ( + 32 % ) License income of $ 4.8 million from $ 0.3 million Sales in Australia ( + 2 % ) and international product sale revenue , ( -35 % ) were hampered in the short term by lockdowns , delayed launches and supply chain constraints , while global Maxigesic sales in the prior year were bolstered by stock pipeline builds Operating profit more than doubles to $ 5.5 million from $ 2.4 million lifted by high margin licensing revenue Net profit after tax more than triples to $ 4.2 million from $ 1.2 million . Net debt of $ 32.6 million down from $ 35.2 at the end of March 2021 and $ 34.3 million at the end of September 2020. Cash balance improved to $ 5.9 million from $ 3.2 million at year end . MaxigesicⓇ commercialisation momentum continues with registration approval of the intravenous and oral dose forms in 51 countries . The medicine is now sold in 47 countries . Guidance for an operating profit of $ 18 million to $ 23 million reaffirmed for the year to 31 March 2022 with product launches and improving market conditions expected to underpin a traditionally stronger second half of the year . * All comparisons are to the prior half year unless otherwise stated - AFT Pharmaceuticals ( NZX ; AFT , ASX ; AFP ) today reports improving results for the half year to 30 September 2021 and - despite the disruptions of COVID - 19 – has made good progress putting in the foundations for sustained growth in the years ahead . The company has continued to consolidate its strong position in the Australasian over the counter ( OTC ) , prescription and hospital pharmaceutical markets and grown its Asian business with new product launches and regulatory approvals . It has advanced its programme to commercialise its portfolio of Maxigesic pain relief medicines . It has also further progressed its development pipeline , including commencing a new study examining the potential for its dermatology product , Pascomer as a treatment for ' port wine stain ' birthmarks . FINANCIAL RESULTS Revenue for the six months to 30 September 2021 grew 14 % to $ 55.4 million from $ 48.8 million in the same period a year ago , led by International , New Zealand and Asia . AFT Pharmaceuticals Limited , Level 1 , 129 Hurstmere Road , Takapuna , Auckland 0622 , New Zealand Incorporated in New Zealand ARBN : ARBN 609 017 969 investor.relations@aftpharm.com