AFT Pharmaceuticals Limited (AFT) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with a welcome, safety instructions, and introductions of directors, auditors, lawyers, and senior management, including the new CFO.

• Quorum confirmed and agenda outlined, including presentations, formal business, and Q&A opportunities.

• Chair and Managing Director delivered opening addresses, followed by discussion, resolutions, general business, and meeting close.

Financial performance review

• Achieved record results with 22% revenue growth to NZD 254.7 million and operating profit up 39% to NZD 24.4 million, exceeding guidance.

• Net profit after tax rose to NZD 14.1 million; products now sold in 87 countries.

• Group revenue and profit growth driven by strong performance in Australia (revenue up 19%), New Zealand (revenue up 11%), Asia (revenue up 41%), and international markets (revenue up 66%).

• Revenue per employee outperformed global peers; 17% CAGR over two decades.

• Net debt increased to NZD 38.6 million, reflecting higher inventory and new product licenses, but remains within target range.

• Forecasting NZD 300 million+ revenue and NZD 28–32 million operating profit for FY 2027.

Board and executive committee updates

• Marree Atkinson retired by rotation and offered herself for re-election, with unanimous board support.

• Malcolm Tubby, previous CFO, retired; Stuart Houliston welcomed as new CFO.

• Chair David Flacks announced intention to retire within 12 months, assisting with transition.

• Board includes Managing Director/CEO, Executive Director/Chief of Staff, and three Independent Directors.