Star Combo Pharma (ASX: $S66) 1HFY24 report highlights

Star Combo Pharma (ASX: $S66) has released its Appendix 4D Half Yearly Report for the half year ended 31 December 2023. The company's manufacturing & distribution division saw a 15.6% revenue growth to $10.66 million in 1HFY24, driven by the expansion of the client base and the development of new products. The OEM division also performed well, delivering revenue growth of $1.02 million to $7.52 million, up 15.6% compared to the same period last year.

Executive commentary on 1HFY24 performance

The company's Chairman, Richard Allely, highlighted the strong performance of the manufacturing & distribution division, stating, 'The 15.6% revenue growth in 1HFY24 reflects the successful expansion of our client base and the development of new products. Our focus remains on growing our contract manufacturing operations, commissioning additional manufacturing capacity, and restoring revenues and operational efficiencies in our retail division.'

Summary of 1HFY24 report and outlook

Star Combo Pharma's 1HFY24 report demonstrates a robust performance, with the manufacturing & distribution division driving a 15.6% revenue growth to $10.66 million. The company's business strategy for FY24 remains focused on growing its contract manufacturing operations, successfully commissioning additional manufacturing capacity, and restoring revenues and operational efficiencies in its retail division. No dividends were paid or declared during the period, and there have been no significant changes in the state of affairs of the group. Looking ahead, the company aims to continue its growth trajectory and maintain operational efficiencies in line with its business strategy for FY24.