Earnings Report: Neimeth Post Post N69.3Million Full Year Loss (2012)

Neimeth International Pharmaceuticals Plc released its Year end to December 2012 financials with revenue increasing 22.7% year on year to N2.3billion. It also posted a Gross Profit of N1.3billion representing a 57% Gross Profit Margin against 58% posted same period last year. Operating profit for the end of the year will drop from N241m in the prior year to N48.1m in 2012 as operating expenses increased 48% year on year.

The loss became inevitable as operating profit was unable to absorb about N135.7million in interest charges for the period under review resulting in an N87m pre tax loss.

Extracts of the company’s result can be found below;

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