Neimeth International Pharmaceuticals Plc has reported an 11 per cent increase in profit after tax for the half-year ended June 30, 2025, signaling a resilient performance driven by strong revenue growth despite rising costs.

According to the company’s unaudited financial results filed with the Nigerian Exchange Limited, profit after tax rose to ₦219.6 million from ₦198.2 million recorded in the same period of 2024.

Revenue surged by 76 per cent to ₦2.91 billion, compared to ₦1.66 billion in the first half of the previous year. The significant increase was attributed to robust sales across the company’s pharmaceutical product portfolio.

Gross profit also climbed by 69 per cent to ₦1.58 billion, up from ₦934 million in the corresponding period of 2024. However, the company’s cost of sales jumped 84 per cent to ₦1.33 billion, reflecting higher production and input costs.

Operating profit more than doubled, rising to ₦1.06 billion from ₦492 million, buoyed by a 220 per cent increase in other income, which hit ₦266 million during the period.

Despite the strong operating gains, finance costs surged 186 per cent to ₦838 million, which limited the bottom-line growth. As a result, profit before tax saw a modest 11 per cent rise to ₦220 million.

Neimeth also reported a 710 per cent spike in administrative expenses to ₦498 million, while marketing and distribution expenses increased by 24 per cent to ₦291 million.

Total assets as of June 2025 stood at ₦12.43 billion, up from ₦11.99 billion in the same period last year. Shareholders’ equity improved to ₦1.87 billion from ₦1.65 billion.

The company also made progress in narrowing its accumulated losses, which dropped to ₦2.64 billion from ₦2.86 billion recorded as of June 2024.

The results reflect Neimeth’s strategic efforts to expand revenue while navigating the challenges of inflationary pressures and increased operating costs in Nigeria’s pharmaceutical industry.