Following from Neimeth’s recent performance, the company has maintained a profitable outlook as evidenced by her Q1 2014 Business year unaudited result with a turnover of N469m compared to N335m, and 40 percent strong growth for the corresponding period the previous year.
This impressive performance also permeated every aspect of her operations. Marketing and Distribution expenses declined while Administrative expenses grew minimally by 3 percent.
Interest and other similar charges declined commendably by an impressive 41% in Q1 2014 as against Q1 2013.
The Q1 2014 Profit After Tax(PAT) at N76m compared to N29m at the same period in 2013 exceeded Management’s forecast and grew by 162 percent over corresponding quarter of 2013.
This sustained positive quarterly trend is being driven by innovation.
“Beyond the Q1 Result, Neimeth’s strong competence in R & D will see us introducing innovative products in different healthcare needs covering anti-hypertensives, antimalarials and other healthcare and veterinary products in diverse new packaging. FITGAH (Fight the Good Fight Against Hypertension), a reversed marketing innovation that is focused on affordability of our key antihypertensive products- Amlovar, Miniplus and
Normoretic.This programme is expected to drive immense patronage and reduce overall cost of hypertension management in all Federal , tertiary and rural hospitals in Nigeria,” Niemeth said in a statement.
Beyond the above, the launch of Pyrantrin choco in December, 2013 also marked the introduction of an innovative chocolate flavoured variant of Niemeth’s deworming agent- Pyrantrin.
The product was introduced to give consumers flexibility of choice and promote children compliance, and is also the end-product of years of intensive and dedicated R & D with innovative slant.
Very soon, two new antihypertensives, Norduet (innovative) and Lisinozide will be introduced to change the face of hypertension management in Nigeria.Norduet has distinct active constituents that is
the first of its kind in Nigeria. With all positive indices in place, the company envisages a good quarterly closure in 2014.
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