Fidson Healthcare Plc (FIDSON) recorded a significant increase in its 2020 FY pre-tax profit, as total revenue increased.
Fidson Healthcare Plc – a pharmaceutical manufacturing company – reported pre-tax profits of N1.74 billion in 2020 FY compared to N575.67 million recorded in the same period 0f 2019 – a 201.85% increase.
READ: UACN records 28% decline in 2020 FY pre-tax profits
Key highlights for 2020 FY
- Revenue increased to N18.28 billion, +29.97% YoY.
- Revenue generated from ethical increased to N10.85 billion, +37.95% YoY.
- Revenue from its over-the-counter unit increased to N7.43 billion, +19.89% YoY.
- No revenue was generated from its consumer unit in the year.
- Other operating income increased to N349.75 million, +17.9% YoY.
- Cost of sales increased to N9.74 billion, +19.01% YoY.
- Finance income declined to N9.24 million, -83.58% YoY.
- Administrative expenses increased to N3.72 billion, +47.60%YoY.
- Finance costs declined to N1.34 billion, -23.05% YoY.
- Pre-tax profits increased to N1.74 billion, +201.85% YoY.
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