In its recently released scorecard (9M:2019), FIDSON’s revenue dipped by 8.48%, pegging top-line at NGN10.48bn. This was largely driven by the sharp decline in revenue from the Ethical Unit (-18.18% to NGN5.58bn), as consumers rotated to cheaper brands within the industry. Revenue from its Over-The-Counter unit (OTC), however, improved slightly by 7.37% to NGN4.89bn (vs. NGN4.55bn in 9M:2019). In the period, the cost-to-sales ratio settled higher at 55.32% (vs. 53.52% in 9M:2018), pegging the cost of sales at NGN5.80bn. Finance costs also trended upwards, resulting in a decline in PAT by 64.49% to NGN271mn. Kindly find attached the full report.
Earnings Update- FIDSON- 9M: 2019
In its recently released scorecard (9M:2019), FIDSON’s revenue dipped by 8.48%, pegging top-line at NGN10.48bn. This was largely driven by the sharp decline in revenue from the Ethical Unit (-18.18% to NGN5.58bn), as consumers rotated to cheaper brands within the industry. Revenue from its Over-The-Counter unit (OTC), however, improved slightly by 7.37% to NGN4.89bn (vs. NGN4.55bn in 9M:2019). In the period, the cost-to-sales ratio settled higher at 55.32% (vs. 53.52% in 9M:2018), pegging the cost of sales at NGN5.80bn. Finance costs also trended upwards, resulting in a decline in PAT by 64.49% to NGN271mn. Kindly find attached the full report.