Nigeria’s largest and oldest built-in agro-allied enterprise, Flour Mills Nigeria Plc, declares in its newest quarterly filings that it made a revenue of N5.65 billion within the third quarter ended, thirty first December 2020.
This is based on the figures disclosed within the firm’s current monetary assertion, which was revealed on NSE’s web site this morning.
The report revealed that the revenue which Flour Mills made within the third quarter of its accounting 12 months 2020/2021 rose by a whopping 150.36% when in comparison with the revenue it made within the corresponding interval of 2019.
- Revenue elevated to N200.23 billion, up by 31.11% Y-o-Y.
- Cost of gross sales elevated to N178.08 billion, up by 30.3% Y-o-Y.
- Gross revenue elevated to N22.16 billion, up by 38.02% Y-o-Y.
- Selling and distribution bills elevated to N2.35 billion, up by 22.53% Y-o-Y.
- Administrative bills decreased to N5.33 billion, down by 20.90% Y-o-Y.
- Net Operating lack of N3.72 billion was recorded, indicating a decline of 887.13% Y-o-Y in internet working revenue.
- Operating Profit elevated to N11.48 billion, up by 46.02% Y-o-Y.
- Finance revenue elevated to N2.5 billion, up by 3,164.3% Y-o-Y.
- Finance prices elevated to N4.98 billion, up by 16.28% Y-o-Y.
- Profit for the interval elevated to N5.65 billion, up by 150.26% Y-o-Y.
Despite prevailing financial headwinds, the Group continued to point out sustained progress in its core segments, because it capitalized on the immense worth inherent within the agro-allied trade, with core leverage on the strategic placement of the Group’s enterprise within the agricultural worth chain, its wealthy model profile, and sturdy distribution community.