FIDSON HEALTHCARE PLC FIDSON HEALTHCARE PLC
Lagos, Nigeria
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FIDSON HEALTHCARE PLC
Annual report and financial statements
For the year ended 31 December 2022
Table of Contents | |
Corporate governance report | ix |
Statement of Directors' Responsibilities | xix |
Audit committee's report | xxi |
Independent Auditor's report | 1 |
Statement of profit or loss and other comprehensive income | 5 |
Statement of financial position | 6 |
Statement of changes in equity | 7 |
Statement of cash flows | 8 |
Notes to the financial statements | 9 |
Value added statement | 63 |
Five-year financial summary | 64 |
FIDSON HEALTHCARE PLC
Annual report and financial statements
For the year ended 31 December 2022
Corporate information | ||
DIRECTORS | Mr. Segun Adebanji, FCA | Chairman - Appointed 1st January 2018. |
Dr. Fidelis A. Ayebae | Managing Director/ Chief Executive Officer - Pioneer | |
Mrs. Olufunmilola O. Ayebae | Non- Executive Appointed January 2001 | |
Mr. Emmanuel E. Imoagene | Non- Executive Appointed February 2011 | |
Mrs. Aisha P. Sadauki | Non - Executive - Appointed February 2011 | |
Mr. Vincent Ahonkhai | Non- Executive - Appointed 1st January 2021 | |
Mr. Ekwunife Okoli | Non - Executive - Appointed 1st January 2021 | |
Mr. Abiola A. Adebayo | Deputy Managing Director - Appointed July 2004 | |
Mr. Olugbenga O. Olayeye | Executive - Appointed July 2004 | |
Mr. Ola Ijimakin | Executive - Appointed, 1st January 2021 | |
Mr. Imokha Ayebae | Executive - Appointed, 1st November 2022 | |
COMPANY SECRETARY Mr. J. Abayomi Adebanjo | ||
REGISTERED OFFICE | 268, Ikorodu Road, Obanikoro | |
Lagos. | ||
Tel: 01-7406817,01-8936502 | ||
www.fidson.com, e-mail-info@fidson.com | ||
AUDITORS | Deloitte & Touche | |
(Chartered Accountants) | ||
Civic Towers, Plot GA1 Ozumba Mbadiwe Street, | ||
Victoria Island, Lagos. | ||
E-mail:ngci@deloitte.com.ng | ||
SOLICITORS | Adesokan & Adesokan | |
53-57, Bamgbose Street | ||
Lagos Island, Lagos | ||
Tel: 2348093131158 | ||
BANKERS | Access Bank Plc | |
Bank of Industry | ||
FSDH Merchant Bank Limited | ||
Fidelity Bank Plc | ||
First Bank of Nigeria Limited | ||
First City Monument Bank Plc | ||
Guaranty Trust Bank Plc | ||
Union Bank Plc | ||
Unity Bank | ||
Wema Bank Plc | ||
Zenith International bank Plc | ||
REGISTRARS | Meristem Registrars & Probate Services Limited. | |
213, Herbert Macaulay Way |
Adekunle, Yaba Lagos
Tel: 234 18920491
Email: info@meristemregistrars.com iii
FIDSON HEALTHCARE PLC
Annual report and financial statements
For the year ended 31 December 2022
Results at a glance. | |||||
Dec-22 | Dec-21 | % | |||
₦'000 | ₦'000 | Change | |||
Revenue | 40,634,143 | 30,860,817 | 32% | ||
Profit before tax | 5,781,473 | 4,717,644 | 23% | ||
Profit for the year | 4,187,158 | 3,719,913 | 13% | ||
Retained earnings | 10,941,811 | 7,774,138 | 41% | ||
Authorised share capital | 1,200,000 | 1,200,000 | 0% | ||
Issued share capital | 1,147,498 | 1,043,180 | 10% | ||
Shareholders fund | 16,919,279 | 13,751,835 | 23% | ||
PER SHARE DATA | |||||
Earnings per share (Kobo) | |||||
Basic and diluted | 182 | 178 | 2% | ||
Net asset per share (Kobo) | 737 | 659 | 12% | ||
Stock exchange quotation | |||||
at 31 December (Naira) | 9.59 | 7.11 | 35% | ||
Number of employees | 593 | 478 | 24% | ||
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FIDSON HEALTHCARE PLC
Annual report and financial statements
For the year ended 31 December 2022
Report of the Directors
1.0 The Directors have pleasure in submitting to the members of the Company their report together with the audited financial statements for the year ended 31 December 2022.
2.0 PRINCIPAL ACTIVITIES
The principal activities of the Company are the manufacture and distribution of pharmaceutical products which includes drugs, infusion and injectables. The Company commenced local manufacturing of pharmaceutical products in July 2002.
3.0 LEGAL FORM
The Company operated as a Private Limited Liability Company until June 5, 2008 when it was registered as a Public Limited Liability Company. The shares are currently quoted on the floor of the Nigerian Exchange Limited (NGX).
4.0 STATE OF AFFAIRS
In the opinion of the Directors, the state of the Company's affairs is satisfactory and there has been no material change since the reporting date, which would affect the financial statements as presented.
5.0 DIVIDEND
The Directors propose to pay dividend of N0.55k amounting to N1,262,247,951.25 out of the profit for the year ended 31 December 2022 (31 December 2021: N0.50k, N1,043,180,125.00). Proposed dividend will only be recognised as a liability after approval by the shareholders at the Annual General Meeting. The bonus shares issued in 2022, having been registered with the Securities and Exchange Commission will rank for dividend.
6.0 | MAJOR CUSTOMERS | |
LAGOS | EAST | |
Omere-Oil Pharm Limited/Zimaco | John Medicals | |
Elvis-Madu and Son Enterprise | Okwytex International Concept Limited | |
Safeline Pharmaceutical LTD | Jaymorr Pharmacy LTD | |
Cemcee Pharmacy | Peton Investment (Nig) Limited | |
Great Dan-White Int'l LTD | Grams Pharmacy |
WEST | NORTH |
Fiolu Pharmacy | Latnas Pharmacy |
Kunle Ara Pharm | Gozeb Pharceuticals Nig. Limited |
Elgra Pharmacy | Klen Pharmacy Limited. |
Ridaz Pharmacy and Store | New Health Pharm |
Goodall Pharmacy | Goodall Pharmacy |
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Fidson Healthcare plc published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 20:16:01 UTC.
