Last 64.00 NGN
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Volume 271.9K
As of 9:30 AM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

flour mills nigeria plc (FLOURMIL) Snapshot

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12/4/13 - 83.50
52 Week Low
03/26/14 - 58.10
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flour mills nigeria plc (FLOURMIL) Details

Flour Mills of Nigeria Plc is primarily engaged in flour milling business in Nigeria and internationally. The company produces a range of flours under the Golden Penny brand used in the manufacture of products, such as cakes, biscuits, spaghetti, macaroni, penne, twist, confectionary, and noodles, as well as in various types of breads. It is also involved in the production and sale of pasta, noodles, edible oils, cassava flour, sugar, and livestock feeds; farming and other agro-allied activities; importation, distribution, and sale of fertilizers; and manufacturing and marketing of laminated woven polypropylene sacks and flexible packaging materials. In addition, the company is engaged in the manufacture, import, and distribution of cement; operation of terminals A and B at the Apapa Port; customs clearing activities; real estate business; management of third party mills; haulage of goods and services; importation and bagging of rice; and logistics business. Further, it acts as a forwarding and shipping agent; and operates approximately 500 trucks. The company was incorporated in 1960 and is headquartered in Lagos, Nigeria. Flour Mills of Nigeria Plc is a subsidiary of Excelsior Shipping Company, Limited.

Founded in 1960

flour mills nigeria plc (FLOURMIL) Top Compensated Officers

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flour mills nigeria plc (FLOURMIL) Key Developments

Flour Mills of Nigeria PLC Announces Earnings Results for the First Quarter Ended June 30, 2014

Flour Mills of Nigeria PLC announced earnings results for the first quarter ended June 30, 2014. The company announced a profit before tax of NGN 3.54 billion for the first quarter ended June 30, 2014 showing a decline of 24.5% over NGN 4.69 billion recorded in the corresponding period of 2013. The company announced that its turnover declined to NGN 9.71 billion compared with NGN 10.49 billion in the same period of last year. The PBT declined was due to a combination of factors, which including a 22bp reduction in gross margin to 11.6%, a 76 % year on year rise in interest expense to NGN 5.5 billion and a 46% year on year decline in other operating income.

Flour Mills of Nigeria PLC ProposeS Increase in Dividend

Flour Mills of Nigeria PLC board of directors is proposing to its shareholders to approve a 5% increase in dividend, that is, NGN 2.0 per ordinary share of 50 kobo and a bonus of one ordinary share for every 10 ordinary shares of 50k each.

Flour Mills of Nigeria PLC Reports Group and Parent Earnings Results for the Full Year of Fiscal 2014

Flour Mills of Nigeria PLC reported group and parent earnings results for the full year of fiscal 2014. For the period, on parent basis, the company posted revenue of NGN 246 billion, a growth of 9% over NGN 226 billion it achieved last year. Profit before tax grew by 7.1% to NGN 12.46 billion from NGN 11.63 billion posted last year, while profit after tax was up by 17.6% to NGN 10.47 billion, from NGN 8.9 billion. For the year, on group basis, the company’s revenue grew by 10% to reach NGN 332.14 billion, while group profit before tax dropped by 24% from NGN 10.87 billion to NGN 8.23 billion. Group profit tax was NGN 5.4 billion, 28% less that NGN 7.5 billion of 2013 financial year.


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