• Revenues up 10.5% to $35.6 million
• Underlying earnings before tax grew 48.1% to $21.9 million
• Net profit after tax rose 28.7% to $14.1 million
• Cash reserves increased 7.8% to $198.2 million

CLINUVEL Pharmaceuticals Ltd has reported a 10.5% increase in sales revenues and a 48.1% rise in underlying earnings before tax for the half year to 31 December 2024. The company's Chief Financial Officer, Mr Peter Vaughan, stated that the team has delivered double-digit revenue growth and fortified the business as it transitions to a period of intense investment to deliver its largest clinical program to date. Revenues were driven by an increase in patients, treatment doses per patient, and higher numbers of prescribers. Expenses grew in line with the Group's expansion initiatives, but a significant reduction in materials and related expenses and non-cash expenses contained the period-on-period rise in total expenses to 2%. Underlying earnings before tax grew to $21.9 million, up 48.1%, whilst profit after tax rose to $14.1 million, up 28.7%. The balance sheet saw a rise of 7% in net assets to $217.3 million and remains free of external borrowings.