Prime Business AfricaBetween January and June 2025, Neimeth International Pharmaceuticals recorded N2.90 billion turnover, compared to the N1.65 billion revenue filed in the first half (H1) of 2025, indicating an increase of 76 percent.
According to the company’s financial statements for H1 2025, Neimeth’s cost of sales increased by 84 percent to N1.32 billion during the review period, against the N722.8 million posted in the corresponding period last year.
Join our WhatsApp ChannelAlso, Neimeth’s gross profit increased by 69 percent year-on-year, from N933.85 million to N1.58 billion, while other income grew by 220 percent, from N83.33 million to N266.38 million
The drug manufacturer achieved the results by spending N290,62 million on marketing and distribution expenses in H1 2025, compared to the N234,87 million expended in H1 2024, representing an increase of 24 percent.
Neimeth also spent N498.44 million on administrative expenses between January and June 2025, compared to the N290.71 million incurred within the same period last year, reflecting a 710 percent increase.
In addition, Neimeth saw its operating profit rise by 115 percent in the first six months of this year, as the company registered N1.05 billion, against the N491.6 million secured in H1 2024.
Also, finance costs grew threefold or 186 percent to N838.34 million in H1 2025, exceeding the N293.37 million incurred in the same period last year.
Consequently, the company’s profit before tax (PBT) increased by 11 percent to N219.63 million in the first half of this year, surpassing the N198.22 million recorded in H1 2024.
Neimeth did not pay tax during the period under review and in the first half of last year.
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