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Fidson Healthcare Plc records 30.28% increase in 2020 9M revenues

Fidson Healthcare Plc recorded a major increase in its ethical drugs and over the counter revenue-generating units.

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Fidson Healthcare Plc,Fidson Healthcare Plc records 30.28% increase in 2020 9M revenues.

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.

READ: Guinness Nigeria Plc: Increase in Nigeria sales boosts revenues

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.

(READ MORE: Fidson: Demand for Prescription drugs boost revenues)

READ: LAFARGE AFRICA PLC: Pre-Tax Profit grows on steep decline in finance cost

Bottom Line

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.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

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Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

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Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

  • Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
  • The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
  • It reported a loss per share of N1.11  in 2020 compared to N0.26 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N0.30 unchanged YTD.

See link to results here

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Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

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Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.  

  • Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. 20.9% YoY 
  • The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.  
  • It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. 22.89% YoY. 
  •  No dividend announcement was made in their press release. 
  • The company share price of N20.85, up +0.72% YTD. 

See link to results here

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