Flour Mills of Nigeria released their financial results for the 3 months ended 30th June 2015 showing a 65% drop in profits after tax from N2.8bn in Q1 2014 to N971 million in Q1 2015. Revenue also dropped by 1.9% from N83bn to N82bn. See summary of result below…
Flour Mills Nig Plc Q1 | 2015 | 2014 | % Change |
N’000 | N’000 | ||
Revenue | 82,281 | 83,947 | -1.98% |
Gross Profit | 9,876 | 9,714 | 1.67% |
Operating Expenses | -3,757,576 | -3,820,184 | -1.64% |
Pre-tax profits | 1,188 | 3,544 | -66.48% |
Profit After Tax | 971 | 2,822 | -65.59% |
Current Share Price | 25.00 |
Not bad considering global economy.