Fidson Healthcare Plc has reported a robust start to 2025, with its profit after tax soaring by 213% to ₦3.25 billion in the first quarter ended March 31, compared to ₦1.04 billion recorded in the same period of 2024.
The pharmaceutical company grew its revenue by 85% year-on-year to ₦35.02 billion, up from ₦18.88 billion in Q1 2024. Gross profit also rose significantly, reaching ₦12.57 billion from ₦7.67 billion a year earlier, as the company maintained strong sales momentum across its ethical and over-the-counter (OTC) product lines.
Despite facing higher administrative and distribution expenses, Fidson achieved a 174% increase in operating profit to ₦6.61 billion. Exchange losses moderated substantially to ₦450 million in Q1 2025 from ₦2.48 billion a year earlier, providing additional support to profitability.
Finance costs, however, nearly doubled to ₦1.80 billion from ₦882.7 million in the corresponding quarter of 2024, reflecting higher interest rates and increased borrowings. Fidson’s total loans and borrowings rose sharply to ₦24.08 billion at the end of March 2025, from ₦15.99 billion as at December 2024.
The company’s cash and bank balances also shrank, moving from a positive ₦4.93 billion at the end of 2024 to a negative net cash position of ₦2.40 billion at the end of Q1 2025, largely due to heavy investments and working capital expansion.
Fidson’s balance sheet remains strong with total assets increasing to ₦80.5 billion as at March 31, 2025, compared to ₦73.5 billion at the end of 2024. Shareholders’ equity rose to ₦26.98 billion, supported by the robust earnings performance.
Commenting on the result, the company highlighted its focus on strengthening its manufacturing capacity, expanding its product portfolio, and driving efficiencies to navigate Nigeria’s challenging operating environment.
Fidson Healthcare Plc was incorporated in 1995 and listed on the Nigerian Stock Exchange in 2008. It remains one of Nigeria’s leading pharmaceutical manufacturers, with a strong presence in ethical, OTC, and consumer healthcare segments.
