Neimeth International Pharmaceuticals Plc has reported an increase of 664.82 per cent in its profit after tax for the nine-month period ended June 30, 2020.
The company’s interim report and accounts showed that its profit after tax rose to N237.63m in the nine-month period from N31.07m in the same period of 2019.
Its turnover rose to N2.01bn from N1.41bn, gross profit increased to N1.10bn from N646.05m, and operating profit jumped to N406.38m from N117.06m. The report showed that Neimeth’s earnings per share rose to 13 kobo for the nine-month period ended June 30, 2020, compared with 2.0 kobo in the same period of 2019.
Its total assets rose by 124.7 per cent to N6.18bn as of June 2020 from N2.75bn recorded by the year ended September 30, 2019. Total equity also increased by 21.5 per cent from N1.07bn to N1.3bn. The Managing Director/Chief Executive Officer, Neimeth International Pharmaceuticals, Matthew Azoji, was quoted in a statement as saying that the growth in the period under review showed that the company’s growth strategies were resilient and had continued to gain traction.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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