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Shareholders of Fidson Healthcare Plc, a pharmaceuticals manufacturing company in Nigeria, will receive a dividend of 55 kobo per share for the year ended 31 December 2022. The shareholders unanimously approved this at the 24th Annual General Meeting held recently in Lagos. The dividend represents a 10 percent increase, an improvement on the 50 kobo per share paid in the 2021 financial year.
The wholly indigenous company also reported a turnover of N40.634billion for the year ended 31 December 2022, representing a 31.7 per cent increase compared to the N30.861billion revenue in 2021. In the same vein, operating profit grew by 28 per cent from N5.862 billion in 2021 to N7.488 billion in 2022, while profit after tax also increased from N3.719 billion in 2021 to N4.187 billion in 2022, representing an increase of 12.5 per cent.
In his remarks, Founder and Managing Director of Fidson Healthcare Plc., Dr. Fidelis Ayebae, attributed the impressive performance of the company to the sustained support, trust, and interest of the company’s stakeholders and loyal customers.
He said: “Since inception, the success of our business has been dependent on our customers’ trust and continued patronage of our brands, most especially as an indigenous pharmaceutical company in a highly competitive market. This sustained trust and support has been the driving force for our relentless commitment to delivering excellence in all our operations. This in turn has yielded great returns, served as a catalyst for business expansion and crystalized our position as the industry’s leader”.
He also spoke about the company’s future outlook and how it intends to reaffirm its position for years to come. “Despite the very challenging business environment, we will continue to strengthen our internal control mechanisms and invest in the next generation of leaders to sustain our excellent performance and embed our corporate culture which ensures the company’s profitability while adding value to lives. Given the company’s rapid expansion, penchant for strategic partnerships and workforce empowerment, we believe that this initiative will deliver the desired stability that will propel the company to its next phase of growth, relevance and dominance”.
One of the event’s highlights was the presentation of Dr. Vincent Ahonkhai and Mrs. Aishatu P. Sadauki and Mr. Emmanuel E. Imoagene for reelection as Non-Executive Directors to shareholders, who were unanimously approved.
The chairman of the Board, Mr. Segun Adebanji, said the three highly professional and accomplished members of the Board will continue to contribute immensely to the quality of Board deliberations and the achievement of the company’s strategic objectives.
Shareholders also expressed satisfaction with the performance of the company.
A prominent shareholder activist, Chief Timothy Adesiyan said, ”Fidson has been very consistent with dividend payment, and I appreciate the fact that despite a few business constraints in the country, they still managed to pay a dividend of 55kobo per share, even at a time when their peers in the industry have gone under or are considering delisting, Fidson has consistently delivered great value to us.”
In the same vein, Adetutu Siyonbola commended the company’s management for encouraging shareholders by holding its Annual General Meetings as at when due and being transparent with all its operations.
Fidson Healthcare PLC is expanding its pharmaceutical production capacity to meet Nigeria’s growing demand for critical therapeutic area drugs as well as other West Africa countries. The company boasts of a remarkable portfolio of over 350 NAFDAC-registered brands and is undertaking the expansion project at its World Health Organisation Good Manufacturing Practice (WHO-CGMP) compliant facility in Ota, Nigeria.
In its pursuit of excellence in pharmaceutical manufacturing in Sub-Saharan Africa, Fidson has made significant investments in state-of-the-art machinery and expertise. The expansion project has progressed seamlessly, leading to successful partnerships with renowned global industry leaders such as GSK and Bayer for contract manufacturing.
