Q1 2026: Honeywell flour posts N16.49bn PAT

By Damilare Adeleye

Nigeria’s major flour milling and food manufacturing company, Honeywell Flour Mills Plc has posted a profit after tax (PAT) of N16.49 billion for the year ended March 31, 2026, with profit after tax rising by 13 per cent to N16.49 billion.

According to the company’s audited annual report filed on the NGX on Saturday, its revenue stood at N360.85 billion compared with N373.51 billion in the previous year, representing a 3% decline.

However, profit before tax increased to N21.90 billion from N21.20 billion, while profit after tax rose from N14.59 billion to N16.49 billion. Earnings per share improved to 207.90 kobo from 183.96 kobo a year earlier. 

The company’s balance sheet also strengthened significantly during the period under review as total assets climbed 29 per cent to N216.71 billion from N167.45 billion, while shareholders’ funds surged 43 per cent to N53.93 billion from N37.45 billion. 

Directors of the company recommended a dividend of N1.59 billion, translating to 20 kobo per ordinary share of 50 kobo each, marking a return to shareholder payouts after no dividend was declared in the preceding year.

In the report, the board expressed confidence in the company’s future prospects, stating: “Nothing has come to the attention of the Directors to indicate that the Group and Company will not remain a going concern for at least twelve months from the date of this statement.”

The Directors further affirmed that the financial statements give a true and fair view of the state of the financial affairs of the Group and Company and of its financial performance for the year ended 31 March 2026.

The company, which manufactures and markets wheat-based products including flour, semolina, whole wheat meal, noodles and pasta, said there were no material changes to the nature of its business during the year.

Honeywell Flour Mills was listed on the Nigerian Exchange in 2009, and its shares are currently trading at N18.20 per unit.

Here is the edited text with grammatical errors corrected for clarity and professional flow, keeping the original narrative structure fully intact without any lists.