Neimeth International Pharmaceuticals Plc has recorded an 11 per cent increase in profit for the half-year ended June 30, 2025.
The company’s unaudited financial results filed with the Nigerian Exchange Limited recently showed a profit after tax of ₦219.6m for the period, up from ₦198.2m reported in the same period of 2024.
Revenue grew 76 per cent to ₦2.91bn compared to ₦1.66bn in the first half of last year, driven by higher sales across its product portfolio.
Gross profit increased 69 per cent to ₦1.58bn from ₦934m in the corresponding period.
However, the company’s cost of sales rose 84 per cent to ₦1.33bn, reflecting increased production costs.
Operating profit more than doubled to ₦1.06bn from ₦492m, supported by other income, which surged 220 per cent to ₦266m.
Despite the strong operating performance, finance costs jumped 186 per cent to ₦838m, leading to a modest 11 per cent growth in profit before tax to ₦220m.
Administrative expenses also saw a sharp increase of 710 per cent to ₦498m, while marketing and distribution expenses grew 24 per cent to ₦291m.
At the end of June 2025, Neimeth’s total assets stood at ₦12.43bn, up from ₦11.99bn the previous year, with equity improving to ₦1.87bn from ₦1.65bn.
The company’s accumulated losses narrowed to ₦2.64bn from the ₦2.86bn recorded in June 2024.
Credit: punchng.com
