At the Genepharm AGM held on 29 Nov 2006 - Chairman O’Brien said that the company expected to report nett revenue for Q4 2006 of about $2.2mill. MD Dennis Bastas reported - New drug registrations - Pravastatin - August 06 Zolpiderm (sleep disorder) - October 06 Paroxetine (anti-depressant) - expected December 06 Sales comparison July 05 to July 06 – sales up about 30%. The figures - 1. GAA is now turning a profit - for the period 1 July to 30 Sept 06 Gross sales $21 mill. Nett sales $12.4 mill. Gross Profit $5.2 mill. Cash at bank $10.2 mill. Debt: NIL. Forecast for the full 06/07 financial year was Gross sales - $110 mill to $120 mill. Nett sales - $60 mill to $65 mill. One shareholder asked when the company expected to pay a dividend and CFO Harding said he looked forward to commencing dividends in 07/08 provided of course the company continues to show a profit. The MD in closing the meeting was upbeat about the company’s prospects.
GAA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
