Fidson Healthcare Plc: Vibrant Stock, Leader in Healthcare Sector

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Fidson Healthcare Plc, one of the leading pharmaceutical manufacturing company in Nigeria was founded in 1995 with the vision of becoming the preferred leading healthcare provider. Ever since then, the brand has built and cultured an organizational framework that has steadily helped her to remain a key player in the industry.

In its audited financial report for the year ended December 31, 2017, Fidson grew 234.9 percent as Profit after tax (PAT) closing at N1.060 billion from N316.762 million in 2016

Profit before tax closed at N1.578 billion appreciating by 255.7% from N443.787million in 2016.

The revenue of the firm grew 83.6%, closing at N14.057billion from the previous close of N7.655 billion in 2016.

Cost of sales stood at N6.902 billion bringing the Gross Profit to close at N7.155 billion representing a growth of 76.45% from N4.055 billion it closed in 2016.

Finance Cost in 2017 was up by 45% closing at N1.001 billion from N690.776 million in 2016

For the period under review, Earnings Per Share (EPS) of the firm was 71 kobo as against the EPS of 21 kobo in 2016.

The Net assets of the firm for the period under review grew marginally by 4.67% to close at N17.447 billion, from the previous close of N16.667 billion in 2016.

First Quarter Review

In its Q1, 2018 the firm grew 25.98% profit after tax, closing at N202.797 million compared to N160.975 million it posted in the first quarter of 2017.

Profit before tax was up from N236.728 million in the first quarter of 2017 to N298.231 million in Q1 2018, also implying a growth of 25.98%

Revenue grew by 5.5%, closing at N3.610 billion from the previous close of N3.421 billion in the first quarter of 2017.

Cost of sales was N1.873 billion bringing the Gross Profit to close at N1.737 billion declining by 1.5% from N1.760 billion it closed in the first quarter of 2017.

In Full year 2017 result, revenue was almost double of what it generated in the previous year, closing with 83.63% growth, year on year.

Fidson’s low liquidity position, indicated by its current ratios, could be a concern, however there is hope for improvement.

The Debt to Equity ratio of Honeywell Flour Mills from 2014 till date, implies a positive leverage metrics.

Fidson is the most vibrant healthcare stock on the floor of the Nigerian Stock Exchange. Currently, the share price of Fidson is N6. The stock price closed in 2017 at N3.70 and touched a high of N6.24 before closing at N6 on June 29, 2018. So far this year, it has been a growth of 62.16%

The manufacturing plant, located at Sango-Ota, Ogun State, is a world class, state-of-the-art facility with high-tech machinery for manufacturing pharmaceutical products. It is the biggest manufacturing facility in West Africa and one of the five shortlisted for World Health Organisation (WHO) certification in Nigeria.

It is an ultra-modern facility with high-tech machinery for manufacturing pharmaceutical products, in compliance with global standards and WHO certification. The plant, which boasts of an unprecedented capacity for drug production, is equipped with six production lines – tablets, Capsules, Liquids, Cream and Ointments, Dry Powder and Intravenous fluids to meet the needs of the Nigerian and West African markets.

 

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