Mayne profit up 380%
February 26, 2016
MAYNE Pharma has reported
stellar revenue and profit growth
for the first half full year (1HFY15)
ending 31 Dec, positioning the
company “to deliver continued
financial growth success across
FY16 driven by opportunities across
multiple channels and all business
segments.”
Revenue for the period hit
$127.3m, an increase of 114% on
1HFY15, with reported EBITDA of
$40.7m, up 201%.
Reported net profit after tax was
$19.2m, up a staggering 380%,
while net operating cashflow
touched $30.5m, up 259%.
Commenting on the result,
Mayne Pharma’s ceo Scott Richards
said, “We are pleased to report
an exceptionally strong half with
increases in revenue, EBITDA, net
profit and operating cashflow over
the 1HFY15.”
“All three US-based segments
contributed significantly to growth
in both US dollar and Australian
dollar terms.”
Richards explained that the US
and Australian generic divisions
(GPD) delivered strong growth and
direct sales through the division’s
own distribution operations now
represent 83% of GPD sales in the
period.
Referring to plans to continue to
invest in facilities and pipeline, he
added, “The dual-site expansion
to materially enhance both
manufacturing capacity and
capability announced in Aug 2015,
remains on track for completion in
FY18.”
“The outlook remains very
positive and the Company has
significant growth opportunities
across multiple channels and
business segments,” said Richards.
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