Mayne Pharma sees strong sales growth in FY 2023

4 September 2023

Shares of Australian specialty pharma firm Mayne Pharma Group (ASX: MYX) closed up 9.2% at A$3.68 today, after it released full-year fiscal 2023 financials, showing that reported revenues were A$183.6 million (US$118.5 million), up 17% on FY 2022.

International revenue increased 19% to A$64.7 million, largely due to increased contract manufacturing in second half FY 2023. During that period, the international segment showed significant improvement in direct contribution of A$4.1 million (versus A$2.8 million).

Reported gross profit was also up 17% at A$83.5 million, with net loss after tax coming in at A$317.4 million, compared with A$220.1 million the previous year

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