Neimeth International Pharmaceuticals Plc has reported a 120 per cent surge in revenue and profitability for the nine months of January to September 2025.
According to its interim financial results filed with the Nigerian Exchange Limited, Neimeth’s revenue grew to N5.01bn from N3.09bn in the corresponding period of 2024, a 62 per cent jump.
Increased sales revenue also led to a 71 per cent increase in gross profit, which stood at N2.49bn. The growth in operating profit before finance costs is even more remarkable, reaching N1.66bn.
Despite the phenomenal growth in sales revenue, the company was able to manage costs. Marketing and distribution expenses grew only by 6 per cent from N412.7m to N437.4m. The company’s administrative costs grew by 67 per cent despite a high inflationary trend and high cost of foreign exchange during the business period.
However, a 198 per cent rise in finance costs from N442.7m to N1.3bn negatively affected the bottom line. Despite these high financing impediments, net profit for the period grew by nine per cent to N339.8m compared to N310.4m in the prior year.
The company’s balance sheet indicates continued growth. During the review period, total assets of Neimeth grew to N13.35bn, an increase from N11.99bn at the end of December 2024. Total liabilities also increased to N11.35bn from N10.34bn.
Consequently, net assets improved by 21 per cent to N1.99bn, up from N1.65bn at the start of the period, reflecting the profit generated during the year.
The company’s equity base was strengthened by its profitability during the period. Starting with an opening equity of N1.65bn, the addition of the N339.8m profit for the period brought the total equity to N1.99bn as of 30 September 2025. Earnings Per Share for the period stood at 7.95 kobo, up from 7.27 kobo in the prior year.
Following the steps of its performance in operations and profitability, Neimeth International Pharmaceuticals Plc’s share price has seen a major rebound in 2025 as investors reassessed the company on the basis of emerging results.
