Highlights of Performance
- The Group has achieved 90% of its budgeted revenue & profitability estimates for the financial year 2022-23.
- Annual revenue of ~USD 36.00 Mn, flat from the previous year.
- Gross Margins have significantly improved to 38% against 35% in the previous year.
- Operational EBIDTA at 9% annual growth (14% of revenue).
- Profit after tax at USD 2.30 Mn against USD 1.30 Mn in the previous year.
- Receivable Days at 180 days against 160 days in the previous year.
- Inventory holding at 128 days against 112 days in the previous year.
- ~USD 3.60 Mn invested on Capex.
- Debt Equity ratio at 0.80 against 0.57 in the previous year.
- Board has not declared any dividend for the period.
Current Business Outlook
- The Group has a positive outlook across all its businesses and expects continued and consistent growth.
- Expects revenue of ~USD 43 Mn in the coming year, with increased margins.
- The Group’s ability to adapt & respond to changing market dynamics has helped to create a robust business model.
- Ramp up in Cote d’Ivoire manufacturing, and the start of Ethiopian operations, will greatly enhance the Group’s growth.
About Africure Pharmaceuticals Ltd (AFRP.mu)
Africure Pharmaceuticals Ltd is a manufacturer and distributor of high quality essential medication in Africa. It was incorporated on 17 March 2017 and holds a Global Business Licence issued by the Financial Services Commission. The principal activity of the Company is investment holding, trading & procurement of pharmaceutical products. Africure Pharmaceuticals Ltd is listed on the Stock Exchange of Mauritius
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