May & Baker Nigeria Plc – a pharmaceutical company, reported revenues of N6.44 billion in 2020 9M compared to N5.92 billion in the same period of 2019 – 8.85% increase.
Key highlights for 2020 9M
- Revenues increased to N6.44 billion, +8.85% YoY.
- Revenues from beverage declined to N47.3 million, -16.72% YoY.
- Revenues from pharmaceuticals increased to N6.39 billion, +9.10% YoY.
- Finance cost declined to N131.16 million, -25.44% YoY.
- Distribution selling and marketing expenses increased to N938.61 million,+23.93% YoY.
- Pre-tax profits increased to N1.00 billion, +43.95% YoY.
- Earnings Per Share increased to N39.52 Kobo, +43.97% YoY.
(READ MORE:Guinness Nigeria Plc: Increase in Nigeria sales boosts revenues)
Bottom Line
May & Baker Nigeria Plc recorded a boost in one of its revenue-generating units, as total revenues increased.
Revenues from its pharmaceutical unit increased considering the recent rise in revenues of pharmaceutical companies due to COVID-19. May & Baker Nigeria Plc’s profits also increased despite rising expenses, partly aided by declined finance cost.
