AFT Pharmaceuticals (ASX:AFP) downgrades earnings guidance

AFT Pharmaceuticals (ASX:AFP) revised its guidance for the year following a number of Covid-19 related delays.

The company is now reporting operating profit to be between $9 -$11 million dollars compared to the $11.4 million at the same time last year.

This is due to delays in licensing negotiations and disruptions to the company’s global supply and distribution networks.

AFT expects revenue for the 2021 financial year to be around $110 million, representing an uplift on the prior year’s $105.6 million.

Shares in AFT Pharmaceuticals (ASX:AFP) are trading flat at $4.40.
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