A sales and marketing expansion drive combined with astute cost containment strategy has earned for Neimeth International Pharmaceuticals Plc a surge in profitability by 120 per cent for the nine months operations.

The interim financial results of the Company released by the Nigerian Exchange Limited (NGX) show that Neimeth recorded a 120 per cent growth in operating profit from N261 million to N1.66 billion while revenue grew to N5.01 billion from N3.09 billion in the corresponding period of 2024, representing 62 per cent increase.

Increased sales revenue also led to a 71per cent increase in gross profit, which stood at N2.49 billion. The growth in operating profit before finance costs is even more remarkable, reaching N1.66 billion.

Despite the phenomenal growth in sales revenue, the Company was able to manage costs. Marketing and distribution expenses grew only by 6 per cent from N412.7 million to N437.4 million. The Company also reined in administrative costs which grew only by 67 per cent despite high inflationary trend and high cost of foreign exchange during the business period.

However, a 198 per cent rise in finance costs from N442.7 million to N1.3 billion negatively affected the bottom line. Despite this high financing impediments, net profit for the period grew by 9 per cent to N339.8 million compared to N310.4 million in prior year.

The Company’s balance sheet indicates continued growth. During the review period, total assets of Neimeth grew to N13.35 billion, an increase from N11.99 billion at the end of December 2024. Total liabilities also increased to N11.35 billion from N10.34 billion.

Consequently Net Assets improved by 21 per cent to N1.99 billion, up from N1.65 billion at the start of the period, reflecting the profit generated during the year.

Financial analysts insist that the Company’s cash flow activities reflect its operational expansion and financing structure. For the nine-month period, Neimeth generated strong positive cash flow from its core operations, amounting to N1.5 billion. A significant cash outflow of N1.42 billion was recorded for financing activities, predominantly for the payment of finance costs.

The Company’s equity base was strengthened by its profitability during the period. Starting with an opening equity of N1.65 billion, the addition of the N339.8 million profit for the period brought the total equity to N1.99 billion as of 30 September 2025.

Earnings Per Share (EPS) for the period was 7.95 kobo, up from 7.27 kobo in the prior year. Following on the steps of its performance in operations and profitability, Neimeth International Pharmaceuticals Plc’s share price has seen a major rebound in 2025 as investors reassessed the Company on the basis of emerging results.