Nigeria’s Biggest Miller posts 2% rise in profit for second quarter

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Flour Mills of Nigeria plc is reporting 2% rise in profit to NGN4.5 billion for the quarter ended 30th June 2017 compared to NGN4.4 billion recorded in the same period 2016.

The company recorded increased revenue of NGN148.3 billion in q2 2017 in contrast to NGN119.2 billion recorded in the previous year while gross profit was higher at NGN17.2 billion against NGN15.2 billion in the year 2016.

Flour Mills of Nigeria plc said its assets for the period was NGN443.5 billion against NGN482.6 billion in the previous year while total liabilities was NGN337.8 billion versus NGN380.0 billion in 2016.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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