H1 2018 Results: Dangote Flour Mills Plc posts 43% decrease in profit

H1 2018 Results: Dangote Flour Mills Plc posts 43% decline in profits

Dangote Flour Mills Plc recently released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports

Revenue

The company reported revenue of ₦56.39 billion for the period ended June 2018 compared to ₦64.86 billion reported for the period ended June 2017. This represents 13% decline.

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Profit Before Tax

Profit before tax was ₦4.40 billion for the period ended June 2018, a 50% drop compared to profit of ₦8.80 billion reported for the period ended June 2017.

Profit After Tax

The company’s profit after tax for the half year ended 30th June 2018 was ₦3.25 billion, a 43% decline from a profit of ₦5.75 billion recorded in H1 2017.

Earnings Per Share

Dangote Flour Mills Plc, however, reported earnings per share of 65 kobo for the period ended June 2018 as against earnings of 116 kobo reported for the comparative period in 2017.