HALF YEAR RESULTS: FIDSON HEALTHCARE PLC.

Very determined efforts of Fidson Healthcare PLC to end year 2016 better than 2015 seem to amount to few drops in an ocean of pressures so far.

According to figures for the half year to June released recently, the whole thing was heralded by 35.3% decrease in core revenue to N2610.7m which even weakened further into 35.5% drop in total income to N2619.1m.

It was followed by only 30.9% decrease in cost of sale to N1255.4m, 66.8% drop in other income to N8.43m and 1.11% increase in finance charges to N299.4m.

Fidson Healthcare PLC fought a good battle by trying to hold down overhead resulting in 31.6% decrease to N1006.2m but like for cost of sale, it was short of the income decrease

Hence by the half year, Fidson healthcare settled for N58.2m profit before tax, down 88.3% on the N476.8m recorded previously.

This meant that it recorded a gain of N2.22 on each N100 income as against N11.7 by June 2015.

It ended the period with a healthier liquidity position though, because working capital ended at N2090.7m deficit as against N2334.3m previously.

FIDSON HEALTHCARE PLC:
Nm,  Half year.
                      2016.      2015
Total inc.      2619.1  4059.7
Core inc.      2610.7. 4034.3
C of sale      1255.4  1815.7
Overhead.    1006.2. 1471.2
Other inc.        8.43.     25.4
Finance costs 299.4. 296.1
Profit b4 tax   58.2.    476.8
Margin %.       2.22.     12.1

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