Fidson Healthcare Plc has released its financial results for the first quarter ended 31st March 2025, reporting a pre-tax profit of N4.8 billion.
This reflects a year-on-year growth of 213.49% compared to the N1.5 billion reported in the same period of 2024, driven primarily by a significant increase in revenue.
The company posted a total revenue of N35 billion for the quarter, representing an 85.42% surge from N18.8 billion recorded in Q1 of the previous year.
- A breakdown of revenue sources reveals that ethical product sales contributed the largest share, totaling N22.9 billion.
- This was followed by over-the-counter (OTC) product sales, which stood at N10.04 billion.
On the cost side, Fidson experienced a notable rise in its cost of sales, which climbed to N22.4 billion—an increase of 100.23% from N11.2 billion in Q1 2024.
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Despite the steep rise in costs, gross profit expanded significantly, reaching N12.5 billion—a 63.77% improvement from the N7.6 billion recorded in the same quarter of the previous year.
However, operating expenses also saw substantial growth.
- Administrative expenses more than doubled, rising by 106.25% to N3.3 billion.
- Selling and distribution expenses also increased sharply, reaching N2.1 billion, up by 66.59%.
Nevertheless, the company maintained strong operational performance, with profit from core operations rising to N6.6 billion, up from N2.4 billion in the corresponding quarter of 2024.
Fidson also reported a healthy balance sheet.
- Total assets grew by 9.53% to N80.4 billion, up from N73.4 billion in Q1 2024.
- Retained earnings increased by 18.32%, closing the quarter at N20.9 billion.
Highlights:
- Revenue: N35 billion, +85.42% YoY
- Cost of sales: N22.4 billion, +100.23% YoY
- Gross profit: N12.5 billion, +63.77% YoY
- Administrative expenses: N3.3 billion, +106.25% YoY
- Selling and distribution expenses: N2.1 billion, +66.59% YoY
- Operating profit: N6.6 billion, +173.74% YoY
- Pre-tax profit: N4.8 billion, +213.49% YoY
- Retained earnings: N20.9 billion, +18.32% YoY
As of the close of trading on 2nd May 2025, Fidson Healthcare Plc’s shares were priced at N22.85, reflecting a year-to-date gain of 47.42%.
