Neimeth shareholders get 6.5 kobo dividend


Neimeth International Pharmaceuticals Plc witnessed significant growth in the top-line in 2020, giving the healthcare company a strong basis to declare its first dividend in nearly a decade.

The audited report and accounts of Neimeth International Pharmaceuticals for the year ended September 30, 2020 showed that turnover rose by 20 per cent to N2.84bn in 2020 as against N2.37bn recorded in the comparable period of 2019.

Gross profit rose by 26.9 per cent from N1.19bn in 2019 to N1.51bn in 2020.

Despite the tough operating environment due to the COVID-19 pandemic and industry-specific challenges, the company sustained considerable bottom-line with profit before tax of N297.39m compared to previous year’s figure of N304.44m. After taxes, net profit stood at N212.48m, implying earnings per share of 11 kobo per share.

The balance sheet of the company also emerged stronger with total assets rising by 134.2 per cent from N2.75bn in 2019 to N6.44bn in 2020.

Shareholders’ funds grew by 18.7 per cent from N1.07bn in 2019 to N1.27bn in 2020.

Source: PUNCH.


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