Fidson Records Revenue Growth, 300% Profit After Tax

Fidson Healthcare Plc. released its FY’14 results on the Nigerian Stock Exchange at the weekend, reporting a modest growth in revenue of five percent YOY with an impressive 250 percent and 310 percent growth in profit before and after tax respectively. This saw the EPS increased from N0.10 in 2013 to N0.42 in 2014.

Fidson grew its gross margin by seven percent from N5.1 billion in 2013 to N5.4 billion in 2014 while operating profit increased marginally by five percent with operating margin remainingat 15 percent of revenue.

Despite the economic challenges, harsh market conditions and increasing financing cost faced during the year, cash flow improved with the company’s cash position increasing by 51 percent from 2013.

The increase in long term debt during the year is as a result of the issuance of a 5-year fixed rate bond to refinance some expensive short-term debt and augment working capital requirements.

The company’s focus on extensive brand building of its innovative and high quality products enhances its financial growth and its ability to maintain significant market share in key disease areas.

This is supported by robust sales and distribution channels as well as persistentdiligence in ensuring products’ integrity through various anti-counterfeiting initiatives.

Fidson’s ultra-modern WHO Good Manufacturing Practice (GMP) compliant plant,where she would manufacture IV fluids in addition to existing product offerings is scheduled to be operational before the end of 2015.

This would broaden the company’s products base, increase its capacity and consequently profitability and growth opportunities.

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