Parnell Pharmaceuticals Holdings Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2017. For the six months, the company reported revenue of AUD 10,283,129 compared to AUD 8,225,614 a year ago. Loss before income tax of AUD 5,512,820 compared to AUD 12,467,007 a year ago. Loss for the year was AUD 5,520,341 compared to AUD 12,477,931 a year ago. Earnings Before Interest, Tax, Depreciation, Amortization and Other Expense for the first half of 2017 improved by AUD 9.5 million to a loss of AUD 0.2 million compared to AUD 9.7 million loss for the same period in 2016. This was achieved by strong revenue growth and operational cost reductions of AUD 7.8 million.

The company reiterated its 2017 revenue guidance. It expects strong double digit revenue growth in Production Animal Business across the US, Australia/New Zealand and Rest of World. The company expects to return to EBITDA profitability in 2017 due to an ongoing focus on reduction in expenditure and increasing revenues from its existing business segments.