Neimeth International Pharmaceuticals reports loss of N406 million for the year 2022

Key Highlights

• The company reports its profit/Loss for the year to be 250% lower compared to last year

Neimeth International Pharmaceuticals Plc has released its audited financial report for the period ended December 31st, 2022 reporting a profit/loss for the year of (N406) million.

This represents a 250% decrease from the N270 million which the company reported during the same period in 2021.

Key details of the audited financial report are summarized below

Revenue

•  December 2022: N3.6 billion
•  December 2021: N3.04 billion
•  Change: +19.7%

Gross profit

• December 2022: N10.5 billion
• December 2021: N9.2 billion
• Change: -8.3%

Total operating profit/loss

• December 2022: (N13.1) million
• December 2021: N553 million
• Change: -102%

Pre-tax profit/loss

• December 2022: (N388) million
• December 2021: N365 million
• Change: -206%

 Profit/Loss for the year

• December 2022: (N406) million
• December 2021: N270 million
• Change: -250%