Fidson Healthcare plc has paid out dividend worth N150m, which represents 10kobo per share.
This follows the approval of its shareholders at the company’s 15th annual general meeting held last week in Lagos.
The company’s audited report for the financial year ended December 31, 2013 which was adopted by its shareholders shows a turnover growth of 29 percent, from N7.2bn in 2012 to N9.2bn.
Fidson Healthcare plc grew its gross profit by 26 percent, from N4.1bn in 2012 to N5.1bn in the financial year under review.
Operating profit however declined by 54 percent to N250m, from N540m in 2012. Profit After Tax (PAT) followed same trend and declined by 25 percent from N207m in 2012 to N155m in the financial year ended December 31, 2013.
“The drop was due to impairment loss incurred on Fidson Products Limited, an associate company that was adversely affected by changes in government policy, that is reversal of the ban on importation of baby diapers, the major products of the company,” said Felix Ohiwerei, chairman, Fidson Healthcare plc.
He said: “This is the first time the associate’s result will be consolidated with that of the company in compliance with the IFRS provisions. We look forward to a brighter future as the impact has been put behind us once and for all.”
The company has progressed on the development of its biotech plant in keeping with its plans, said Ohiwerei, adding that “we expect to start test production in this plant by end of 2014.”
Businessday
