Neimeth International Pharmaceuticals Plc has reported a profit after tax (PAT) of N30 million for the half year ended March 31, 2018, compared with a loss of N195 million in the corresponding period of 2017. This is just as the company has appointed Mrs. Bashirat Odunewu as an independent director in compliance with the statutory requirement for good corporate governance.
An analysis of the results showed that Neimeth posted revenue of N877.317 million in 2018, up from N601.427 million in 2016. Cost of sale stood at N399.7 million compared with N259 million, while it ended the period with gross profit of N477.6 million, up from N342.3 million in 2016.
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