Fidson Healthcare Plc. released its FY’14 results on the Nigerian Stock Exchange at the weekend, reporting a modest growth in revenue of 5% YOY with an impressive 250% and 310% growth in PBT and PAT respectively.
This saw the EPS increase from N0.10 in 2013 to N0.42 in 2014.
Fidson grew its gross margin by 7%, from N5.1 billion in 2013 to N5.4 billion in 2014 while operating profit increased marginally by 5% with operating margin remaining at 15% 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% 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 persistent diligence 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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