AFT Pharmaceuticals

[Pegasus2000]

Thanks Sideshow Bob for the update. Glad to see that the revenue is up, the debt is down, dividend is coming!

[trader_jackson]

Great result on all fronts - FY23 PE of about 13, dividend on the way, debt down, healthy operating cash flow, very impressive operating and net profits... and all these metrics are forecast to continue to improve - whats not to like!

Not expensive at all for a company with close to an average 15% revenue growth pa for well over a decade... its all coming together folks!

Disclosure: No longer a holder, but would like to be!

[Sideshow Bob]

Market certainly likes it - up 11.5%. Albeit just back to where it was a month ago...

[Muse]

Market certainly likes it - up 11.5%. Albeit just back to where it was a month ago...

aye

bugger all free float in this stock. 70% is owned by hartley atkinson, 92% by the top 27 shareholders. After hartley is the ACC with 4.6%. then a bunch of custodians and nominees - hard to know if there are many instos in that or just custodians for jarden clients, other bank clients etc. MMC custodian is the 3rd largest with 3.4% and they tend to do a lot of outsourced registry, unit accounting and custodian work on behalf of kiwisaver providers and instos so that likely a bit of insto too.

I think its an interesting company but it pays the price with low liquidity particularly when market sentiment turns sour. I have a wee stake - will take more notice of it in a few years.

license fees can be lumpty and historically could form a big part of revenue. those always move around a bit between accounting year periods and market didn't like that. hopefully as the business ramps up across multiple geographies and revenue becomes dominated by unit sales, license revenue becomes a less important part of revenue, and the business becomes more predictable and less volatile in the future

[ronaldson]

This was my last purchase, at $3.26 on 11 May. As seems to be usually the case with my Buys I could have got them soon after for $3.15, but the annual result just announced was ( predictably I think ) a good one and dividends are now tantalisingly just over the horizon. While the free float is limited so liquidity can be an issue over 100k have changed hands already today at around $3.90 so the market is positive that further growth is coming, and some must be bent upon accumulating a stake.

[CROESUS U.T.]

Good to see today's announcement
AFT and RooLife launch OTC medicines online in China

[Muse]

Good to see today's announcement
AFT and RooLife launch OTC medicines online in China

yes this business has real momentum at the operational and financial levels. forward pricing appears sound enough at 16x PE, but a PEG ratio of well under one given how fast EPS is growing. low liquidity always sees SP drift after announcements and I have this on my list to accumulate as SP falls.

[Mel]

Dividend policy for FY23 announced
https://www.nzx.com/announcements/396464

[silverblizzard888]

Great announcement of dividend policy, signals strong stable profits to come. Dividend amount paid is 20-30% of profit.

FY 22 operating profit was $20.4 million (after tax profit $19.8 million)

FY 23 operating profit $27-32 million (mid-point $29.5)

Good growth in operating profit and nice continued growth, looking like a good company for the long term. Small initial dividend but will definitely get bigger in the years to come.

[silverblizzard888]

Behind paywall but you can read the few sentences available that NZ and Aus expecting 12 and 24 new product launches

https://www.nbr.co.nz/investment/aft...nd-and-abroad/