Nigeria’s leading pharmaceutical company, Fidson Healthcare Plc posted a profit before tax of N1.18 billion in Q3 2023, marking a year-on-year growth of 8.5% from the corresponding quarter in 2022.
The group posted a revenue of N14.79 billion in Q3 2023, representing a 33.9% year-on-year growth from the same period in 2022. This modified the group’s nine months of revenue to N40.37 billion, a 28.5% year-on-year growth from the same period in 2022.
Key Highlights Q3 2023 vs Q3 2022
- Revenue: N14.79 billion, +33.9% YoY
- Cost of sales: N10.29 billion, +60.2% YoY
- Gross profit: N4.50 billion, -2.7% YoY
- Operating cost: N2.74 billion, -10.6% YoY
- Operating profit: N1.80 billion, +12.9% YoY
- Net finance cost: N575.16 million, +23.0% YoY
- Profit before tax: N1.18 billion, +8.5% YoY
- Profit for the period: N799.2 million, +8.5% YoY
- Earnings per share: N0.35, +9.4% YoY
- Cash and cash equivalents: N3.11 billion, +11.5% YoY
- Total assets: N50.88 billion, +18.4% YoY
More Insights
- Fidson Healthcare not only holds the top position as the most capitalized pharmaceutical company on the Nigerian Stock Exchange but also outperforms other major pharmaceutical companies in Nigeria, including May and Baker, GSK Nigeria, and Neimeth, in terms of earnings.
- Like other non-banking companies trading on the NGX, Fidson Healthcare also experienced a surge in its finance costs, as its finance costs surged by 23% YoY in Q3 2023.
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