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Fidson Healthcare Plc records 202% increase in 2020 FY pre-tax profit

Fidson Healthcare Plc (FIDSON) recorded a significant increase in its 2020 FY pre-tax profits, as total revenue increased.

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

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.

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

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Company Results

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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Focus: This small-cap oil company is seriously lagging behind

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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Company Results

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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