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Saturday, April 1, 2023

Fidson HealthCare’s Profit Doubles as Sales Surge

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Fidson healthcare a Nigerian drug maker has reported a 138 percent surge in profits to N1.19 billion in the six months’ period to June 2021, compared to N500.63 million in the year earlier period.

Sales for the period (Jan-Jun 2021) increased by 57.1 percent to N12.89 billion even as cost of sales escalated, helping to push gross profits higher to N5.93 billion, up some 66.2 percent from the earlier period.

Fidson saw a slight moderation in finance costs in the period to N609.7 million, due to a slide in interest on bank loans, which also helped to boost the bottom-line.

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