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Home Business News

Flour Mill’s profit after tax increases by 16.44% in H1 2019  

Joseph OlaoluwabyJoseph Olaoluwa
3 years ago
in Business News, Company Results
Flour Mill's profit after tax increases by 16.44% in H1 2019  
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Flour Mills of Nigeria Plc has released its condensed consolidated and separate interim financial statements for half-year 2019. The condensed reports showed that the group’s profit increased by 16% even though the revenue witnessed a slight increase. See the key breakdown below.

[READ MORE: NAHCO’s 9-month results indicate 30% profit growth]

Revenue: The Group’s condensed revenue for the half-year period of 2019 stood at N270.76 billion, indicating a 0.37% increase when compared to N269.73 billion during the comparable period in 2018.

Gross Profit: The firm recorded 31.77 billion in gross profit as at the end of H1 2019, signalling a slight reduction from 32.11 billion recorded as at the end of H1 2018. This represents a slight decrease of 1.06%.

Profit before Tax: Profit before tax for the group stood at N8.63 billion for H1 2019, representing a slight increase of 4% when compared to N8.30 billion for the period under review.

Profit after Tax: As at H1 2019, Flour Mills of Nigeria Plc recorded a profit after tax of N5.90 billion, up from N5 billion as at H1 2018, representing a 16.44% profit growth.

[READ ALSO: Quick take: Sustained cost pressure weighs on profit]

Earnings Per Share: Earnings Per Share for the group stood at N1.53 as at H1 2019 compared to N1.25 recorded in H1 2018.

To download the full financial report, check here.

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Tags: Flour Mills of Nigeria PlcFlour Mills of Nigeria Plc's H1 2019 resultsOn the Money

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