Neimeth International Pharmaceuticals Plc has delivered a remarkable turnaround in its 2025 financial performance, posting a pre-tax profit of N1.49 billion for the year ended December 31, 2025, compared with a pre-tax loss of N854.43 million recorded in 2024. The company’s results, filed with the Nigerian Exchange (NGX), show a strong recovery driven by higher sales and improved operational efficiency.
A notable contributor to the improved outcome was a foreign exchange gain of N48 million, a significant reversal from the over N2 billion FX loss experienced in the prior year. Overall, Neimeth’s performance reflects a 274% improvement year-on-year, underscoring a sharp return to profitability.
The company’s fourth-quarter performance further highlighted the recovery, with a Q4 pre-tax profit of N1.15 billion, compared with a Q4 2024 loss of N1.16 billion. The figure also marked a substantial improvement from Q3 2025’s pre-tax profit of N340 million, reinforcing the momentum built in the latter part of the year.
In the full-year results, Neimeth reported revenue of N7.37 billion, representing a 64% increase from N4.49 billion in 2024. Gross profit rose sharply to N3.35 billion, up 71% from N1.96 billion, reflecting stronger top-line growth and an expansion in gross margin.
Operating profit surged to N2.71 billion, a dramatic increase from just N18.89 million in 2024. The company’s bottom line also returned to the black, with profit after tax of N982.11 million, compared with a loss of N885.33 million the previous year. Basic and diluted earnings per share improved to 22.98 kobo, reversing the negative 20.72 kobo recorded in 2024.
The revenue growth was largely driven by a surge in pharmaceutical segment sales, which accounted for N7.18 billion of the total revenue, while the animal health segment remained relatively flat at N187.55 million. The improved gross margin suggests better production efficiency or improved pricing, contributing to the strong profitability.
However, the company’s operating expenses rose significantly, with administrative expenses increasing by 88%, largely due to higher impairment charges and staff costs. Finance costs also rose by 40%, reaching N1.22 billion, reflecting the restructuring of borrowings and higher debt obligations.
On the balance sheet, total assets grew by 25% to N14.93 billion, supported by increased investment properties and inventories. Cash and cash equivalents, however, declined to N1.61 billion, down from N2.15 billion, as the company deployed funds toward debt repayments and inventory build-up.
Neimeth restructured its borrowings during the year, taking on N6.7 billion in new financing while repaying N2.2 billion, a move that management said helped stabilise the company’s financing structure and support operational liquidity.
On the NGX, Neimeth’s share price closed at N10.75 per share on February 2, 2026, up 9.7% from N9.80 on January 30, 2026. The stock began the year at N5.80, marking a 69% gain year-to-date, and ranks 14th in YTD performance on the exchange. With a market capitalisation of N41.9 billion and 4.27 billion shares outstanding, Neimeth currently ranks as the 74th most valuable stock on the NGX, representing about 0.039% of the NGX equity market value.
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