Neimeth Posts ₦1.49 Billion Pre-Tax Profit as Pharmaceutical Revenue Jumps

LAGOS, Feb 3 – Neimeth International Pharmaceuticals Plc returned to profitability in 2025, posting a pre-tax profit of ₦1.49 billion ($1 million) for the year ended December 31, according to results filed with the Nigerian Exchange. The result compared with a pre-tax loss of N854.43 million recorded in 2024, showed a sharp improvement in operating performance and foreign exchange position.

The turnaround was supported by a ₦48 million foreign exchange gain, compared with a loss of more than ₦2 billion in the previous year. Revenue rose 64% year on year to ₦7.37 billion from ₦4.49 billion, driven largely by stronger demand for pharmaceutical products. The pharmaceutical segment contributed ₦7.18 billion to total revenue, while the animal health segment remained largely flat at ₦187.55 million.

Gross profit increased 71% to ₦3.35 billion, lifting margins as cost of sales grew more slowly than revenue. Operating profit climbed to ₦2.71 billion from ₦18.89 million a year earlier, supported by higher sales and improved foreign exchange outcomes. Profit after tax stood at ₦982.11 million, compared with a loss of ₦885.33 million in 2024, while earnings per share rose to 22.98 kobo from a negative 20.72 kobo.

In the fourth quarter alone, the company recorded a pre-tax profit of ₦1.15 billion, reversing a loss of ₦1.16 billion in the same period of 2024 and improving on the ₦340 million reported in the third quarter. Administrative expenses increased 88% year on year, reflecting higher staff costs and impairment charges, while finance costs rose 40% to ₦1.22 billion as borrowing levels increased.

Total assets grew 25% to ₦14.93 billion, supported by higher inventories and investment properties. Cash and cash equivalents declined to ₦1.61 billion from ₦2.15 billion, partly due to debt repayments and inventory build-up. External debt rose to ₦9.68 billion following the restructuring of some loans, including ₦6.7 billion in new financing and ₦2.2 billion in repayments.

Shares of Neimeth International Pharmaceuticals Plc closed at ₦10.75 on February 2, 2026, up 9.7% from the previous session and up 69% since the start of the year, according to NGX data.