Fidson Healthcare recorded a 48.2 percent surge in profit to N3.44 billion, the highest in seven years from N2.32 billion recorded in the nine-month ended 2021.
Revenue increased during the period to N31.43 billion from N21.8 billion indicating a record high in five years.
BusinessDay analysis shows the sales of ethical goods supported the growth in revenue by 66.5 percent, following over-the-counter(28.8%) and consumer healthcare products (4.5%).
On a year-on-year basis, the sales of ethical goods by Fidson healthcare grew to a value of N20.9 billion, up 45 percent from N14.4 billion in September 2021.
The sales of over-the-counter goods climbed 24.6 percent to N9.07 billion in September 2022 from N7.28 billion in September 2021.
The sales of Fidson’s consumer healthcare product increased by 44 percent to N31.4 billion from N21.8 billion in the period reviewed.
Fidson’s cost of sales grew to N17 billion, a 54.5 percent increase from N11 billion in September 2021.
Fidson recorded an administrative expense of N5.26 billion in the nine-month of 2022, up 17.6 percent from N4.47 billion in the same period of last year.
Selling and distribution expenses surged 38.5 percent to N3.56 billion from N2.57 billion in September 2021.
Finance cost surged 38 percent to N1.28 billion in September 2022 from N927.3 million in September 2021.
The firm’s finance income dipped 40.7 percent to N34.4 million from N58 million in the period reviewed.
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Cash and cash equivalents at the end of the period increased to N2.8 billion in September 2022, up 239 percent from N825.7 million in September 2021.
Fidson healthcare spent N1.04 billion on promotion and advertisement, up 101 percent from N515.6 million spent in the prior year.
The firm’s total assets rose to N42.4 billion in September 2022, a 28.1 percent increase from N33.1 billion in December 2021.
Inventories climbed to N13.5 billion in September 2022, up 21.6 percent from N11.1 billion in December 2021.
Net cash flow from operating activities dropped 55.4 percent to N3.43 billion from N7.7 billion, indicating a positive cash flow year on year.
Net cash utilised by investing activities recorded a negative of N2.25 billion from a negative of N2.57 billion in the period reviewed.
Net cash from financing activities recorded a positive of N1.72 billion from a negative cash flow of N5.7 billion in September 2021.
Prepayments climbed 52.5 percent to N2.12 billion in September 2022 from N1.39 billion in December 2021.
The basic per share grew to N150 from N111 in the period reviewed.
