Fidson healthcare profit up 1079% for Q2

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Fidson Healthcare PLC, a composite pharmaceutical company in its financial report recorded 1079 rise in profit to NGN466.0 million compared to NGN39.5 million profit recorded in the same quarter 2016.

Fidson Healthcare said it ended the quarter with NGN6.6 billion revenue in contrast to NGN4.6 billion it ended 2016 with while costs of sales was NGN3.2 billion in contrast to NGN1.2 billion in the year before.

The pharmaceutical company recorded an increase in gross profit to NGN3.4 billion compared to NGN1.3 billion in 2016 while operating profit also increased to NGN1.0 billion from NGN357.5 million posted in 2016.

Total assets was acquired NGN16.9 billion compared to NGN16.6 billion recorded in the year before while total liabilities decreased to NGN9.9 billion from NGN10.0 billion in the previous year.

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