Flour Mills Nigeria Plc released its 2013 Q1 results showing revenue rose 43% to N100.9billion when compared to the same period last year (2013 Q1: N70.7billion). However cost of sales rose even higher YoY to N90.4billion (2012 Q1: N58.5billion). This lowered Gross profit margin to N10.5billion (2012 Q1: N12.1billion). Operating profit also dropped 22% to N5.2billion during the period. [upme_private]
The company’s finance cost also rose by 40% YoY to N3.1billion. Pre-tax profits at the end of the period was N4.7billion an 8% drop from the N5.1billion posted a year earlier. The company struggles with cash flow this quarter posting negative operating cashflows of about N28billion.
Flourmills Nigeria Plc released its 2013 Q1 results in the website of the NSE[/upme_private]