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

Fidson Healthcare Plc – a leading pharmaceutical manufacturing company, reported revenues of N13.65 billion in 2020 9M, compared to N10.48 billion same period in 2019.

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Key highlights for 2020 9M

• Revenues increased to N13.65 billion, +30.28% YoY.
• Revenues from ethical drugs increased to N8.08 billion, +44.64% YoY.
• Revenues from over the counter increased to N5.57 billion +13.95% YoY.
• Other operating income increased to N210.07 million, +10.30% YoY.
• Administrative expenses increased to N2.72 billion, +25.93% YoY.
• Selling and distribution expenses increased to 1.86 billion, +75.13% YoY.
• Finance cost decreased to N951.38 million, -31.56% YoY.
• Pre-tax profits increased to N1.44 billion, +257.74% YoY.

(READ MORE: Fidson: Demand for Prescription drugs boost revenues)

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Bottom Line

Fidson Healthcare Plc recorded a major increase in its ethical drugs and over the counter revenue-generating units. The rise in revenues is understandable, considering the recent rise in revenues of pharmaceutical companies due to the COVID-19 pandemic. The company also increased significantly in the period, despite its rising expenses. This was partly aided by declined finance cost and increased other operating income.