Fidson Healthcare Plc records 30.28% increase in 2020 9M revenues
- 4th November 2020
- Posted by: Hakeem
- Category: Company Results
Fidson Healthcare Plc – a leading pharmaceutical manufacturing company, reported revenues of N13.65 billion in 2020 9M, compared to N10.48 billion same period in 2019.
Key highlights for 2020 9M
- Revenues increased to N13.65 billion, +30.28% YoY.
- Revenues from ethical drugs increased to N8.08 billion, +44.64% YoY.
- Revenues from over the counter increased to N5.57 billion +13.95% YoY.
- Other operating income increased to N210.07 million, +10.30% YoY.
- Administrative expenses increased to N2.72 billion, +25.93% YoY.
- Selling and distribution expenses increased to 1.86 billion, +75.13% YoY.
- Finance cost decreased to N951.38 million, -31.56% YoY.
- Pre-tax profits increased to N1.44 billion, +257.74% YoY.
Fidson Healthcare Plc recorded a major increase in its ethical drugs and over the counter revenue-generating units. The rise in revenues is understandable, considering the recent rise in revenues of pharmaceutical companies due to the COVID-19 pandemic. The company also increased significantly in the period, despite its rising expenses. This was partly aided by declined finance cost and increased other operating income.