Mayne Pharma $1.6m Profit 1H2013

Drug manufacturing company, Mayne Pharma Group (ASX:MYX) have announced its half year financial results for 2013 to its shareholders and investors on the Australian stock market.

• Mayne Pharma announced a NPAT (Net Profit After Tax) excluding non-recurring items of $1.6 million.
• MYX also reported sales revenue of $27 million and NPAT of $2.5 million loss.
• Mayne Pharma EBITDA was $1.2m with underlying EBITDA at $5.4 million.
• Mayne Pharma CEO Scott Richards said, "The 1H13 period was nothing less than transformational for Mayne Pharma following the changes made during the period to diversify our earnings streams across products, technologies and geographies. Following the diversification activities and investments in the management team, the Company is in a much more sustainable position with a larger portfolio of branded and generic products and a pipeline with 17 products under development targeting the world's largest pharmaceutical market."
• Mayne Pharma has businessman Roger Corbett as its Chairman, with pub entrepreneur Bruce Mathieson and members of the Pratt family as shareholders.
• Mayne Pharma did not declare a dividend.