Fidson Healthcare Plc, one of the major healthcare firms in Nigeria, in its unaudited financial statements for the period ended March 31, 2018, recorded a growth in profit after tax (PAT), which closed at N202.8 million compared with N161 million as at March 2017.
Also, the profit before tax jumped year-on-year to N298.2 million in Q1 2018 from N236.7 million in Q1 2017.
According to the financial results of Fidson, the revenue generated in the period under review rose to N3.6 billion from N3.4 billion in the corresponding period of last year.
However, the gross profit in Q1 2018 dropped to N1.7 billion from N1.8 billion in Q1 2017.
The company further revealed in the unaudited statements that the operating profit increased to N538.8 million in the first three months of this year from N450.7 million in the first three months of last year.
It was also revealed in the results that the total assets of the firm as at March 31, 2018 stood at N17.8 billion against N17.5 billion as at December 31, 2017, while the total liabilities ended in Q1 2018 at N9.9 billion versus N9.8 billion in FY 2017.
A total of N705.3 million was used to run the company in the period under review against N654.9 million in Q1 2017.
The payment of salaries of workers quaffed N162.3 million in Q1 2018 versus N166.8 million in Q1 2017, N61.4 million was spent on traveling against N58.1 million last year.
A total of N33.4 million was spent on diesel and fuel in Q1 2018 compared with N70.4 million in Q1 2017, N12.7 million on consultancy in Q1 2018 against N2 million in Q1 2017, repairs and maintenance took up N151.6 million in Q1 2018 versus N66.2 million in Q1 2017, conferences and workshops raked N7.3 million in Q1 2018 in contrast to N1.3 million in Q1 2017, N7.3 million was spent on telephone, internet and postage in Q1 2018 against N9.4 million in Q1 2017.
Also, during the period under review, selling and distribution expenses swalowed 522.8 million against N653.5 million in the same period last year, while N250 million was used to pay interest on bank loan against N214 million used in Q1 2017.
