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Fidson Healthcare grows profit by 26% to N686m

By BusinessNews Staff on November 18, 2014

Fidson Healthcare Plc has announced its financial results for the nine months ended 30 September, 2014, showing improved resources management that led to a higher bottom-line.

While turnover rose marginally by four per cent profit before tax (PBT) and profit after tax (PAT) recorded growth above 20 per cent.
Specifically, turnover rose from N7.24 billion to N7.51 billion, showing four per cent improvement. The company was able to manage its cost of sale, growing by one per cent from N3.34 billion to N3.38 billion. Distribution and administrative cost fell by one per cent from N3.16 billion to N3.12 billion. However, financial charges jumped by 70 per cent from N185 million to N35 million.

Consequently, PBT grew by 26 per cent from N544 million to N686 million. A higher tax expenses further reduced the growth in PAT to 22 per cent to stand at N466 million, compared with N382 million recorded in the corresponding period of 2013.
But PBT and PAT margins improved from 7.5 per cent to 9.1 per cent and 5.3 per cent to 6.2 per cent respectively
According to the company, its financial growth trend is premised on the ability to maintain its products’ market share in key therapeutic areas.
“This is driven by innovative products, strategic marketing approaches, robust distribution channels as well as relentless efforts in ensuring quality and various anti-counterfeiting initiatives. The company is also well positioned for huge growth opportunities, following the projection of a significant improvement in sales upon the completion of the ultra-modern World Health Organisation Good Manufacturing Practice (GMP) compliant plant,” Fidson said.

The plant is expected to begin operation in 2015. And the company said with the new plant in place, it would accomplish a world-class pharmaceutical manufacturing capacity, which will compete healthily with its foreign counterparts, thereby placing the country’s healthcare manufacturing sector on a global pedestal.
“The new biotech plant construction is one of the ways Fidson Healthcare is demonstrating its commitment to the well-being of Nigerians and also fulfilling its corporate brand promise of providing excellent quality world-class healthcare solutions,” the company explained.
FMDQ 1
Investors looking for ways to invest in the Nigerian capital market from anywhere in the world now have another opportunity to do so as Investment One Stockbrokers International Limited last Friday launched an online trading platform called ‘EasyTrade’.
Speaking on the product in Lagos, Managing Director, Investment One Stockbrokers International Limited, Mrs Chidiogo Ezejiofor, said the platform would enable investors to buy and sell stocks on the exchange with real-time processing functionality.

According to her, EasyTrade, will provide users real-time market data with availability of various technical indicators to analyse the trend and momentum of the market.

She added that the platform would enable investors make informed decisions based on the latest data.

Unlike other similar products already in the market, Ezejiofor explained that EasyTrade gives investors direct online real time access to Nigerian Stock Exchange (NSE) trading engine, adding that product is made up of world-class technology with robust client data protection and security framework to give clients a seamless experience when processing transaction.

“The platform provides access to in-depth market insight with the research materials of the company to enable clients make informed investment decision. This platform will enable our client make their stockbroking portfolios on mobile devices tablets, laptops and desk top computers. The 24/7 connectivity to the portfolio is complemented by access to the company’s online customers support for customers to talk directly to customer service team,” she said.
Ezejiofor noted that as a financial services firm, we the company is uniquely positioned to provide comprehensive services to meet its clients’ investment requirements, adding that company is also committed to capital market literacy in order to give the investing public the confidence to invest wisely.
Also speaking, Executive Director, Investment One Financial Services Limited, Mrs. Abimbola Afolabi-Ajayi said that Easy Trade was part of the company’s corporate social responsibility to boost investors participation in the market.

“The platform has a robust security features which is well articulated to ensure that investors trades and accounts are not compromised.”

She said that the company was committed to capital market literacy to promote investment in the nation’s bourse and give the investing public the confidence to invest wisely.

“We are well positioned to provide comprehensive services to meet its clients’ investment requirements. We will continue to educate investors on the usage of the platform to know the right time to execute their trading,” Afolabi-Ajayi said.

[ThisDay]

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