N4.187bn Profit: Fidson reaffirms leadership in pharma sector

Adebisi Aikulola
Adebisi Aikulola
Fidson office

FIDSON  Healthcare Plc has reaffirmed its commitments in the pharmaceutical sector, as its shareholders will receive a dividend of 55 kobo per share for the year ended December 31, 2022.

The shareholders unanimously approved this at its 24th Annual General Meeting in Lagos, disclosing that the dividend represents a 10 percent increase, an improvement on the 50 kobo per share paid in the 2021 financial year.

Fidson is expanding its pharmaceutical production capacity to meet Nigeria’s growing demand for critical therapeutic area drugs as well as other West African countries.

Fidson also reported a turnover of  N40.634 billion for the year ended December 31, 2022, representing a 31.7 percent increase compared to the N30.861 billion revenue in 2021.

Speaking, the Founder and Managing Director of Fidson Healthcare Plc., Dr. Fidelis Ayebae, attributed the impressive performance of the company to the sustained support, trust, and interest of the company’s stakeholders and loyal customers.

He said, “Since inception, the success of our business has been dependent on our customers’ trust and continued patronage of our brands, most especially as an indigenous pharmaceutical company in a highly competitive market.

This sustained trust and support have been the driving force behind our relentless commitment to delivering excellence in all our operations. This in turn has yielded great returns, served as a catalyst for business expansion, and crystallized our position as the industry’s leader.

“Despite the very challenging business environment, we will continue to strengthen our internal control mechanisms and invest in the next generation of leaders to sustain our excellent performance and embed our corporate culture, which ensures the company’s profitability while adding value to lives.

Given the company’s rapid expansion, penchant for strategic partnerships, and workforce empowerment, we believe that this initiative will deliver the desired stability that will propel the company to its next phase of growth, relevance, and dominance”.

One of the highlights of the event was the presentation of Dr. Vincent Ahonkhai, Aishatu P. Sadauki, and Emmanuel E. Imoagene for re-election as non-executive directors to shareholders, who were unanimously approved.

On his part, the Chairman of the Board, Segun Adebanji (FCA), explained that the three highly professional and accomplished members of the Board will continue to contribute immensely to the quality of Board deliberations and the achievement of the company’s strategic objectives.

Shareholders also expressed their satisfaction with the performance of the company.

Chief Timothy Adesiyan said, Fidson has been very consistent with dividend payment, and I appreciate the fact that despite a few business constraints in the country, they still managed to pay a dividend of 55kobo per share. Even at a time when their peers in the industry have gone under or are considering delisting, Fidson has consistently delivered great value to us.”

In the same vein, Barrister Adetutu Siyonbola commended the company’s management for encouraging shareholders by holding its annual general meetings as scheduled and being transparent with all its operations.

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