Fidson Healthcare revenue sinks to N2.6bn in half year 2016

Fidson Healthcare Plc has announced a serious setback in its comprehensive income for the half year ended 30 June, 2016.

The drugs manufacturing company declared a decline of N1.424 billion represented 35.29 per cent in its revenue. Its revenue stood at N 2.611 billion at the end of 2016 half year from N4.034 billion of prior period.

It spent N1.255 billion of its revenue on cost of sales marginally dropped when compare with N1.816 billion it spent in 2015.

Despite dropped of 35.29 in revenue, Fidson Healthcare financial charges in half year 2016 increased by 1.09 per cent to settle at N299.361 million in 2016 as against N296.144 million it spent on financial cost in 2015.

The profit before tax of the company’s stood at N18.627 million in 2016, a massive reduction of 88 per cent when compared to N152.568 million of half year 2015.

Its profit after tax also dropped immensely by 88 per cent from N324.206 million to N39.582 million at the end of half year 2016.