Fidson Healthcare PLC has published a full-year pre-tax profit of N7.5 billion, a 27.31% surge from N5.9 billion in 2023, in accordance with its unaudited financial report on the Nigerian Exchange (NGX).
The company’s Q4 pre-tax profit bolstered by 282.35% to N2.3 billion, with quarterly revenue nearly doubling (+92.96%) to N24.4 billion.
Revenue Growth
Fidson’s total revenue grew 58.70% YoY, reaching N84.1 billion, driven by:
Ethical goods: N55 billion (65% of sales)
Over-The-Counter (OTC) products: N26.3 billion (31.3%)
Consumer Healthcare Products: N2.8 billion
Despite a 54.09% increase in cost of sales (N49.2 billion), gross profit jumped 65.69% to N34.9 billion.
Overview of Financial Performance
Operating Profit: N12.9 billion (+62.17% YoY)
Finance Costs: N5.4 billion (+161.38% YoY)
Finance Income: N60 million (+160.87% YoY)
Asset Growth
Fidson’s total assets rose to N73.3 billion (+18.5% YoY), with non-current assets at N25.6 billion and current assets at N47.6 billion, primarily boosted by inventories (N23.9 billion) and prepayments (N12.5 billion).
In summary, despite rising operational and finance costs, Fidson Healthcare achieved robust revenue and profit growth, strengthening its strong position in Nigeria’s pharmaceutical sector.
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