Fidelity Bank, Flour Mills, Berger paints report N18.3bn profit in 2021 financial year

Fidelity Bank, Flour Mills Plc and Berger Paints have reported a total profit of N18.3 Billion for 2021 financial year.

Out of this N18.3 Billion, Flour Mills of Nigeria PLC made a total profit of N6.5 Billion in 2021 financial year.

The group on the Nigeria exchange limited (NGX) declared Seven per cent increase in profit before tax to N25.3billion in nine months of 2021 from N23.6billion  reported in nine months of 2020 for flour mills of Nigeria.

The operating profit of Flour mills increased by N14.8 per cent to N40.4billion in nine months of 2021 from N35.2 billion in nine months of 2020.

On the other hand, Fidelity bank declared 87.6 per cent increase in profit before tax to N12.6billion  in 2021 from N6.7billion reported in 2020.

Fidelity bank net interest income after credit loss declined by 2.7 per cent to N26.9 billion in 2021 from N29.1 billion reported in 2020.

While, Berger paints of Nigeria, reported  38 per cent increase in profit before tax to N290.9million in 2021 from N210.9million reported in 2020.

According to the gross profit of Berger paints of Nigeria reported, the profit grew to 23 per cent in 2021 from N1.7billion to N1.42 billion in 2020.

The operating profit of Berger paints reported, the profit grew to 63 per cent in 2021 from N317.6million to N194.9 million in 2020.

From the profit and loss figures the group revenue of flour mills moved from N555 billion in nine months of 2020 to N825 billion in nine months of 2021, the profit increased to 48.5 per cent.

The profit and loss figures of Fidelity bank revenue moved from N51.3 billion in 2020 to N75.1 billion in 2021, the profit increased to 4.6 per cent.

While, Berger paints profit and loss figures revenue moved from 3.48billion in 2020 to N4.99 billion in 2021,an increase of 30 per cent.