Suggestions




·

Neimeth Grows Revenue To N2.9bn, Records 710% Increase In Finance Costs

August 28, 2025
by

Between 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 Channel

Also, 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.

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

Profit Takers Milk Tinubu’s Insurance Law Effect, Wipe Off N198bn From Insurance Stocks

Next Story

Dakuku Peterside’s New Book: A Guide to Navigating Crisis

Featured Stories

Related Posts

Latest from Business

FCCPC Clarifies One-Month Moratorium On Exploitative Pricing Amid Economic Challenges

FCCPC Flags Possible Airline Price-Fixing During 2025 Christmas Season

Nigeria’s consumer protection agency has uncovered evidence suggesting some domestic airlines may have engaged in price fixing during the 2025 Christmas travel rush. In an interim report released Thursday, the Federal Competition and Consumer Protection Commission (FCCPC) said ticket fares during December
Valuation Of Nigerian Stock Market Drops By Over N514bn

Valuation Of Nigerian Stock Market Drops By Over N514bn

On Thursday, February 26, over N514.99 billion was wiped off the market capitalisation of the Nigerian Exchange (NGX), also known as the stock market. The market capitalisation fell to N124.23 trillion, from the N124.75 trillion recorded on Wednesday, February 25.Join our WhatsApp
Previous Story

Profit Takers Milk Tinubu’s Insurance Law Effect, Wipe Off N198bn From Insurance Stocks

Next Story

Dakuku Peterside’s New Book: A Guide to Navigating Crisis

Don't Miss

Utomi To Meet Labour Party Leaders, May Pick Presidential Nomination Form On Thursday

Utomi, will storm Labour Party Headquarters in Abuja on Thursday,
The Oscars

How Sean Baker’s Anora Swept Awards At The 97th Oscars

American romantic comedy-drama “Anora” turned out to be the biggest