Neimeth Returns To Profit, Nets N65.09m In 2016


Healthcare products maker- Neimeth Pharmaceuticals, on Thursday presented its audited result for the year ended September 30, 2016, showing that it returned to profit, just as turnover rose, while cost of sales remained flat.
According to the result presented to the Nigerian Stock Exchange (NSE), turnover rose to N2 billion from N1.46 billion in the corresponding full year of 2015; while cost of sale stood at N776.756 million, just above the N776.062 million reported for the preceding year.
This left profit after tax at N95.361 million from a loss of N315.772 million; while after tax profit was N65.093 million from N335.684 million, translating to earnings per share of four kobo from a loss of N1.19