QUARTER RESULTS (8): Fidson Healthcare; Mobil Oil.

FIDSON HEALTHCARE: CARING, NO SMILES

For Fidson Healthcare PLC, in the first quarter to March 2016, it was more or less a case of caring with no room for smiles. Or so m
he quarter figures show.
Core revenue had eased slightly by 0.94% but more stressful was the fact that cost of sale instead increased by 0.81%.
To worsen matters, overall overhead grew by 2.6% to N462.4m just like finance charges which also closed up but by 3.68% to N157.0m.
In other words, during the period, the only encouraging news was that Other income came to N15.3m compared to mere N1.18m by March 2015.
No wonder, Fidson Healthcare ended the quarter with 31.6% decline in profit before tax to N41.9m.
This worked out at N3.4 on every N100 income as against N4.98 previously.

FIDSON HEALTHCARE: (Nm)
                    First quarter
                        2016.             2015
Total income 1232.7.         1230.1
Core revenue 1217.4.          1228.9
Cost of sale.   570.4.             565.8
Overhead.       462.4.             450.7
Other income    15.3.              1.18
Finance cost.  157.9.             152.3
Profit b4 tax      41.9.               61.3
Profit margin %  3.4.                4.98
Working capital 1949.9.      2224.7

MOBIL OIL PLC: CLOSE CALLS

There were too many close calls for Mobil oil in the first quarter to March and so, it ended the period not quite on target.
Both total income and core revenue had grown by 37.5% and that should have been good enough to smile over except that 39.6% increase in cost of producing the goods sold spoilt the fun.
Then income from other sources chipped in 30% growth to N1423.4m alongside 27.9% increase in finance income to N16.5m but  it still boiled down to 30% only 30% increase in profit before tax N2687.2m
This was because selling and distribution cost rose by 29.8% to N1674.4m, administration expenses
added 21.3% and other expenses jumped to N5.75m from mere N 125000 previously.
So, in the final analysis Mobil oil settled for N11.8 gain on each N100 income compared to N12.5 by March 2015.

MOBIL OIL PLC:  (Nm)
                   First quarter
                        2016             2015
Total inc.       22697.          16512.1
Core revenue 22680.5.      16499.2
Cost of sale   18861.4.      13509.4
Selling etc       1674.4.         1289.7
Administration  891.7.          735.3
Other op. Exp.      5.75.          O.125
Finance income. 16.5.           12.9
Finance cost.        -                  5.70
Profit before tax 2687.2.    2066.8
Profit margin %   11.8.          12.5

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