Flour mills of Nigeria announces 9.4% increase in profit

Flour mills of Nigeria PLC on Friday declared 9.4 per cent increase in profit for unaudited nine months results for period ended as at December 31, 2021.

The group on the Nigeria Exchange Limited (NGX) reported N17.1billion profit in nine months of 2021 from N15.6billion profit in nine months of 2020.

Also, the group reported 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.

According to the profit and loss figures, the group revenue moved from N555billion in nine months of 2020 to N825billion in nine months of 2021, an increase of 48.5 per cent.

The operating profit grew by 14.8 per cent to N40.4billion in nine months of 2021 from N35.2billion in nine months of 2020.