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.. Declares N3 billion profits for 2021

By Gabriel Olawale 

Fidson Healthcare Plc has restated its commitment to championing innovation and capacity expansion to address customers’ need for affordable and high-quality drugs despite the unfriendly socio-economic realities in Nigeria.

Speaking during the the23rd Annual General Meeting in Lagos, Chairman, Board of Directors of the company Mr. Segun Adebanji, said that despite the macro-economic conditions and the operating environment, Fidson Healthcare Plc, driven by its investments in local manufacturing, will continuously pursue its vision to be the healthcare provider of choice in Africa.

Adebanji said that such commitment was responsible for the company’s performance for the year ending 2021, “as you can see, our company posted a profit of N3.097 billion for the year 2021 as against N1.205 billion in 2020. The company also registered a total turnover of N30.860 billion, compared with N18.275 billion in 2020, representing an increase of 69 percent.”

He hinted that the Board of Directors has approved a dividend of 50 kobo per share representing 100 per cent improvement on the 25 kobo per share declared in the 2020 financial year while also approved a bonus of 1 new ordinary share for every 10 ordinary shares of 50 kobo held by shareholders as at the record date.

“Operating profit grew from N3.097 billion in 2020 to N5.862 billion in 2021, representing an increase of 89 per cent. Also, profit after tax increased from N1.205 billion in 2020 to N3.097 billion during the year under review, representing an increase of 157 per cent.

Adebanji, said that Fidson will continue to champion innovation and capacity expansion to address customers’ need for affordable and high-quality drugs despite the unfriendly socio-economic realities in Nigeria.

He acknowledged the effect of the economic challenges such as the foreign exchange situation, rising operating costs, poor government funding of the health sector, and the incessant closure of markets, especially in the South-eastern part of Nigeria which disrupted the supply chain and regular supplies of products around the country.

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