Fidson Healthcare plc recently released its financial results for the third quarter ended 30 September, 2014.
The result shows that turnover increased by about 4 percent year-on-year to N7.5bn, an increase of 54 percent quarter-on-quarter. Gross profit margin also rose by 6.0 percent y-o-y to N4.1bn, largely as a result of an improvement in the Cost of sales, which is currently at 45.1 percent against 46.7 percent as at half-year 2014.
Financial charges increased by 70 percent to N315m as against N185m recorded last year. However, Profit before Tax (PBT) and Profit after Tax (PAT) margins increased from 7.5 percent to 9.1 percent and 5.3 percent to 6.2 percent respectively; compared with the same period last year giving an annualised EPS of N0.41.
Fidson’s financial growth trend is premised on its ability to maintain its products’ market share in key therapeutic areas. This is driven by innovative products, strategic marketing approaches, robust distribution channels as well as relentless efforts in ensuring quality and various anti-counterfeiting initiatives.
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The company is also well positioned for huge growth opportunities, following the projection of a significant improvement in sales upon the completion of its ultra-modern WHO Good Manufacturing Practice (GMP) compliant plant. The plant is proposed to begin operation in 2015.
