Fidson Healthcare Plc, an indigenous manufacturer of pharmaceuticals, declared a profit of N4.19 billion at the end of the fiscal year 2022, up from N3.72 billion at the same time in 2021.
The Punch reported that the company also revealed it had a turnover of N40.63 billion for the year ending December 2022, reflecting a 31.7% increase over the N30.86 billion revenue in 2021 in a statement released after its 24th Annual General Meeting in Lagos.
Similar to this, its operating profit increased by 28% from N5.86 billion in 2021 to N7. 49 billion in 2022, and its profit after tax increased by 12.5%.
A 55 kobo dividend per share for the reviewed period was agreed by the group’s shareholders in the meantime. The dividend for 2022 represents a 10 per cent increase, over the 50 kobo per share paid in the 2021 financial year.
A 55 kobo dividend per share for the reviewed period was agreed by the group’s shareholders in the meantime.
The 50 kobo per share paid in the 2021 fiscal year indicates a 10% increase in the 2022 dividend.
The founder and managing director of Fidson Healthcare Plc, Dr. Fidelis Ayebae, commented on the group’s performance and credited the company’s excellent results to the ongoing support, confidence, and interest of the company’s stakeholders and devoted consumers.
The success of our firm has depended on customer loyalty and trust ever since we opened for business, particularly as an indigenous pharmaceutical company in a very competitive sector.
A 55 kobo dividend per share for the reviewed period was agreed by the group’s shareholders in the meantime.
We have been tireless in our drive to achieving quality in all of our operations thanks to the continued trust and support we have received. This has produced excellent results, acted as a catalyst for corporate growth, and solidified our position as the leader in the sector.
Ayebae provided insight into the company’s future, saying, “Despite the extremely difficult business environment, we will continue to strengthen our internal control mechanisms and invest in the next generation of leaders to sustain our excellent performance and embed our corporate culture, which ensures the company’s profitability while enhancing lives.
“Given the company’s quick growth, preference for strategic alliances, and commitment to employee empowerment, we believe this program will bring about the desired stability that will catapult the business into its next stage of growth, relevance and dominance.”
One of the shareholders, Timothy Adesiyan, commented on the success of the company: “Fidson has been very consistent with dividend payment, and I appreciate the fact that they are paying dividends despite the issues hitting businesses in the country.
“Fidson has constantly provided us with outstanding value; they managed to pay a dividend of 55kobo per share even while their competitors in the industry had folded or were considering delisting.”
Three directors were put forward to shareholders for re-election as non-executive directors at the AGM, and they were all unanimously approved. They are Mr. Emmanuel E. Imoagene, Mrs. Aishatu P. Sadauki, and Dr. Vincent Ahonkhai.
To accommodate Nigeria’s rising demand for pharmaceuticals, Fidson Healthcare announced it is increasing its capacity to produce critical therapeutic area drugs as well as other West Africa countries.
