Fidson Healthcare Plc has released its audited annual financial report for 2012. The company’s report according to Nigerian Stock Exchange recorded 51 % increase in turnover over last year’s 12 months period.
Profit Before Tax (PBT) of N540 million in year 2012 against N214 million in year 2011 showed a 152% increase. Profit After Tax (PAT) also recorded an increase from N55 million (adjusted) in year 2011 (18 months) to N206 million in year 2012; showing an increase of 274%.
According to the Finance Director, Fidson Healthcare Plc. Mr Olatunde Olanipekun, the improvements recorded were a result of concerted efforts to raise performance and productivity.
“The company is leaving no stone unturned in ensuring that it performs optimally and do excellently well on all our deliverables, both in terms of production and sales of products across the country. We have an obligation to deliver sustainable and profitable growth to our stakeholders and we don’t intend to compromise on that obligation, despite the harsh realities of business operations in Nigeria”, he said.
Mr Olanipekun further said although a lot is happening in the country today and the flow of business operations is being hampered by the difficult economic environment, the company has devised strategies to weather the storm and make its growth sustainable.
Based on this result, the company is proposing a 12kobo dividend pay-out to its investors, which represents an increase of 20% over the previous year. This is however subject to approval by its shareholders at the forth coming Annual General Meeting on a date yet to be officially communicated.