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May & Baker records 215% profit

May & Baker Nigeria Plc, a pharmaceutical company, has recorded a Profit Before Tax (PBT) of N139.5m which represents a 215 per cent growth in…

May & Baker Nigeria Plc, a pharmaceutical company, has recorded a Profit Before Tax (PBT) of N139.5m which represents a 215 per cent growth in its unaudited half year results for the period which ended June 30, this year, as against last year.

A statement from the organisation, yesterday, said the Profit Before Tax leaped to N139.5 million from N44.2 million of June, 2016. Also, a 57 per cent growth in operating profit was recorded. This margin derived from the 2017 half year cumulative N452.2 million increase on the N287.8 million returned same time last year. 

The analysis shows that revenue increased from N3.7 billion in 2016 to N4.5 billion in 2017 and grew by 20.6 per cent.

According to the figures released to the Stock Exchange, the operating expenses from distribution, sales and marketing was N510.838 million in June last year.

Speaking on the results, The Managing Director, of May & Baker, Nnamdi Okafor, said the organisation was determined to improve its performance, year-on-year in order to consolidate its leading position in the competitive Pharma manufacturing sector. 

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