Nigerian Bag Manufacturing (BAGCO) is a subsidiary of Flour Mills of Nigeria Plc. The company represents a group including Northern Bag Co. Ltd(Kano) and BAGCO-MOPRACK Nig, Ltd. The company released its Q1 2012 Unaudited Financials with revenue dropping 8.5% to N5.4billion from the N5.9b posted in the same period last year. Despite this the company was still able to reign in on cost as Gross Profit Margin increased 15.8% to N1.8b. Consequently, the company posted an improved operational profit of N1billion for the quarter. Whilst this result is initially commendable one must worry about the dip in revenues for the first quarter of this year. Break down of the company’s results are analyzed below;
BAGCO’s Q1 Unaudited Accounts is featured on the website of the NSE
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NIGERIAN BAG MANUFACTURING COMPANY – Q1 2012 RESULTS http://t.co/OWBePRPF