Prime Business AfricaIn the first quarter (Q1) of 2025, Fidson Healthcare generated N35.01 billion in revenue, exceeding the N18.88 billion turnover generated between January and March 2024.
The 85.41 percent increase in revenue was lower than the 100.23 percent growth in the cost of sales, as the company spent N22.44 billion to manufacture its drugs in Q1 2025, compared to the N18.88 billion expended in Q1 2024.
Join our WhatsApp ChannelThis showed the cost of production gulped 64.10 percent of turnover in the first quarter of this year, higher than the 59.36 percent recorded in the previous year’s Q1.
Despite the increase in costs, Fidson recorded 63.77 percent year-on-year growth in gross profit, which rose to N12.56 billion from N7.67 billion.
More growth was seen in operating profit, as it reached N6.60 billion in Q1 2025, compared to N2.41 billion in the corresponding period last year, indicating an increase of 173.74 percent.
Although finance costs also saw a threefold or 104.14 percent increase, after rising from N882.67 million in the first quarter of 2024, to N1.80 billion in the same period this year.
However, this was offset by a 178.68 percent increase in finance income, which rose to N45.45 million in Q1 2025, from N16.31 million posted in Q1 last year.
The substantial increase in finance income supported the bottom line, as the latter grew by 213.49 percent to N4.85 billion during the reviewed period, exceeding the N1.54 billion reported in Q1 2024.
Also, income tax grew by threefold or 213.49 percent year-on-year, rising from N510.72 million to N1.60 billion.
Despite this, Fidson recorded a 213.49 percent increase in profit after tax (PAT), which grew to N3.25 billion in the first quarter of 2025, compared to the N1.03 billion recorded in the corresponding period last year.
At the end of the period under review, Fidson reported its total assets rose to N80,49 billion, up from the N73.49 billion recorded as at December 31, 2024, indicating a 9.52 percent growth within three months.
Similarly, the company’s total liabilities increased by 7.54 percent, from N49,76 billion posted at the end of last year, to N53,51 billion.
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