PolyNovo (ASX:PNV) achieves profit turnaround in FY24 with NPAT of AUD 5Mn

Tue 24 Dec 24, 03:48 AM | Team Kalkine

Image source: Shutterstock

Highlights

FY24 total revenue surged by 57.6% YoY to AUD 104.8 million.

In FY24, PNV Achieved a net profit after tax of AUD 5.3 million, reversing a prior year loss of AUD 4.9 million.

November monthly sales stood at AUD 10.1 million.

A manufacturing facility is scheduled for operation by December 2025 to support growth.

PolyNovo Limited (ASX:PNV) is an ASX-listed medical device company that specialises in cutting-edge wound care technologies. It focuses on designing, developing, and manufacturing products like NovoSorb® BTM and NovoSorb® MTX. PNV has a market cap of AUD 1.42 billion.

In November 2024, the company recorded monthly sales of AUD 10.1 million, comprising sales of AUD 7 million from the US business and sales of AUD 3.1 million from the rest of the world. The period saw group revenue including BARDA of AUD 11 million.

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