By Modupe Gbadeyanka
The first three months of 2017 can be said to be very rewarding for one of the leading Nigeria-based pharmaceutical manufacturing companies, Fidson Healthcare Plc.
During the period, the company saw its profit rise magnificently by 465 percent from N28.5 million as at March 31, 2016 to N161 million in March 2017. This was largely influenced by some initiatives carried out by management of the firm.
Similarly, the profit before tax of the company grew from N43.8 million recorded in 2016 to N236.7 million in 2017.
Equally, Fidson Healthcare experienced an increase in its revenue in the first quarter of 2017 when compared with what was achieved in the corresponding period of 2016. While the firm posted N1.2 billion as turnover in March last year, N3.4 billion was netted as revenue in the period under review.
However, from the analysed financial results released to the Nigerian Stock Exchange (NSE) on Friday, the total value of assets of the Fidson Healthcare dropped to N16.5 billion from N16.7 billion declared last year, same with the company’s total liabilities, which stood at N9.8 billion compared with N10.1 billion in 2016.
Dipo Olowookere 
Adedapo Adesanya