Northern Nigeria Flour Mills Plc has released its annual report for the financial year ended 31 March 2025, reporting a pre-tax profit of N2.8 billion.
This reflects a 25.16% increase from the N2.3 billion recorded in the previous year, largely driven by higher revenue.
Revenue for the year rose to N35.3 billion, marking a 36.38% increase from the N25.9 billion posted in 2024.
- Wheat product sales contributed the most to revenue, totaling N19.8 billion.
- This was followed by maize products at N10.2 billion, while sorghum generated N3.03 billion.
- Other products made up the rest.
Cost of sales rose to N30.2 billion, up 35.03% from N22.3 billion last year. Even with rising sales costs, gross profit increased from N3.5 billion to N5.1 billion.
The company reported ‘other operating income’ of N138.3 million, up 203.74% from the previous year, driven mainly by freight recoveries and sundry income.
Operating expenses also grew during the year, with general and administrative costs rising by 116.49% to N2.09 billion.
- Despite this, the company’s operating profit rose to N2.8 billion from N2.3 billion in 2024.
Also favorably, finance costs decreased from N21.6 million to N12.7 million, helping ease pressure on the bottom line.
- On the balance sheet, total assets stood at N30.5 billion, reflecting a 70.43% increase from the previous year.
- Retained earnings also grew, reaching N4.4 billion—up 56.63%.
Key highlights
- Revenue: N35.3 billion, +36.38% YoY
- Cost of sales: N30.2 billion, +35.03% YoY
- Gross profit: N5.1 billion, +44.89% YoY
- Other operating income: N138.3 million, +203.74% YoY
- General and administrative expenses: N2.09 billion, +116.49% YoY
- Operating profit: N2.8 billion, +24.40% YoY
- Pre-tax profit: N2.8 billion, +25.16% YoY
- Total assets: N30.5 billion, +70.43% YoY
- Retained earnings: N4.4 billion, +56.63% YoY
As of market close on 2nd June 2025, shares of the company were priced at N138.90, with a year-to-date performance of 216.40%.
