GSK Consumer Nigeria Plc reported revenues of N16.45 billion in 2020 9M compared to N15.92 billion same period in 2019.
Key highlights for 2020 9M
- Revenues increased to N16.45 billion, +3.34% YoY.
- Revenues from consumer healthcare declined to N4.70 billion -3.20% YoY.
- Revenues from pharmaceuticals increased to N11.75 billion, +6.21% YoY.
- Administrative expenses increased to N1.41 billion, +18.61% YoY.
- Investment income declined to N63.04 million, -62.05% YoY.
- Pre-tax profits increased to N638.71 million, +4.19% YoY.
- Earnings Per Share remained 36 Kobo YoY.
GSK Consumer Nigeria Plc recorded an increase in its pharmaceuticals’ revenue-generating unit, as total revenues increased despite a dip in the consumer healthcare unit.
The rise in the pharmaceuticals unit is understandable, considering the recent rise in revenues of pharmaceutical companies due to COVID-19. Although profits increased in the period under consideration, rising administrative costs constituted a drag on the company’s profitability.