Suggestions




·

Costs Gulp 46% Of Neimeth’s Turnover As Expenses Rise By 296%

July 3, 2025
by

Over N1.20 billion was recorded as revenue by Neimeth International Pharmaceuticals Plc in the first quarter (Q1) of 2025, exceeding the N648.25 million turnover reported in Q1 2024, reflecting an increase of 86 percent.

However, the cost of sales increased threefold or 296 percent to N566.55 million in Q1 2025, against the production costs of N143.14 million recorded in the corresponding period last year.

Join our WhatsApp Channel

As a result, the costs of production gulped 46.96 percent in the first quarter of this year, up from the 22.08 percent gulped in 2024.

Although Neimeth ended the reviewed period with a 27 percent year-on-year increase in gross profit, which rose from N505.11 million to N639.71 million.

Also, other income increased significantly by 374 percent to N152.40 million in the first quarter of 2025, higher than the N32.12 million reported in Q1 2024.

Similarly, operating profit increased threefold or 114 percent in Q1 of this year, as the company recorded N449,86 million, compared to the N210,14 million posted during the corresponding period last year.

Neimeth also reported that finance costs grew to N334.11 million during the reviewed period, against the N132.48 million reported in Q1 2024, indicating an increase of 152 percent.

Furthermore, profit before tax (PBT) increased by 49 percent year-on-year from N77,65 million to N115,75 million, while the company did not record any tax for the period.

In addition, Neimeth’s total assets grew from N11.98 billion in Q1 2024 to N12.41 billion in Q1 2025, reflecting an increase of 3.54 percent, and total liabilities increased by 2.99 percent during the same period from N10.33 billion to N10.64 billion.

For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: publisher@primebusiness.africa and editor@primebusiness.africa

+ posts

Prime Business Africa

Related Posts

Previous Story

Oyo Govt Attracts N46.6bn Investments In Agribusiness

Next Story

 Obi Condemns Killing Of 10 In Anambra, Demands Justice

Featured Stories

Related Posts

Latest from Business

Production Cost Gulped More Than Half Of Fidson's Revenue In 2025

Production Cost Gulped More Than Half Of Fidson’s Revenue In 2025

Fidson Healthcare Plc generated N119.06 billion revenue in 2025, exceeding the N84.18 billion topline recorded in 2024, representing 41.42 percent. In the company’s unaudited report and financial statements for the period ended December 31, 2025, Fidson spent N69.91 billion on the cost
Nigerian Stock Market Cap Extends Decline With N73.44bn Loss

Nigerian Stock Market Cap Extends Decline With N73.44bn Loss

The Nigerian Exchange (NGX), also known as the stock market, saw its market capitalisation decline marginally by N73.44 billion on Wednesday, February 25, to N124.75 trillion, from N124.82 trillion reported on Tuesday, February 24. The all-share index (ASI) decreased by 114.41 basis
Previous Story

Oyo Govt Attracts N46.6bn Investments In Agribusiness

Next Story

 Obi Condemns Killing Of 10 In Anambra, Demands Justice

Don't Miss

NNPC refinery

NNPC Begins Trans-Shipment Charges, Depot Owners Raise Fuel Price

The Nigerian National Petroleum Company Limited (NNPC) has commenced a

FIFA U-20 Women’s World Cup: Impressive Falconets Top Group C, Play Netherlands In Quarterfinals

Nigeria's U-20 women's national team, the Super Falconets in the