Fidson has released its unaudited financial statements for the third quarter of 2025, reporting a pre-tax profit of N2.9 billion, slightly above the N2.87 billion recorded in Q3 2024.

For the nine-month period ended September 30, 2025, the company reported a pre-tax profit of N11.9 billion, representing a 131.74% increase from N5.13 billion recorded in the same period of 2024.

A cursory look shows that the Q3 performance was supported by solid revenue growth, despite pressures from foreign exchange losses and elevated operating expenses.

Fidson Healthcare recorded revenue of N30.4 billion in Q3 2025, a 35.4% increase from N22.47 billion in the same quarter of 2024.

Cost of sales rose to N17.93 billion, up 38.5% from N12.94 billion, reflecting higher input and production costs. This resulted in a gross profit of N12.5 billion, representing a 31.2% year-on-year growth.

Despite higher administrative expenses, which rose to N3.41 billion from N1.94 billion and selling and distribution costs of N2.43 billion, the company managed to post an 8.2% increase in operating profit to N4.78 billion, up from N4.42 billion in Q3 2024.

Nevertheless, finance income contributed N42.27 million, providing a modest cushion, as pre-tax profit for the quarter edged up to N2.90 billion from N2.87 billion in Q3 2024.

Fidson Healthcare’s balance sheet reflects steady expansion, with total assets growing to N87.00 billion as of September 30, 2025, up from N73.49 billion at the end of December 2024.

Shareholders’ equity rose to N29.40 billion from N23.72 billion, driven primarily by higher retained earnings, which increased to N23.42 billion from N17.74 billion.

Total liabilities stood at N57.59 billion, up from N49.76 billion, reflecting increased borrowings and financial obligations.

As of market close on November 3, 2025, shares of the company were priced at N42, reflecting a year-to-date gain of 170.97%.