WorldStage Newsonline– Flour Mills of Nigeria Plc, Nigeria’s leading integrated food business and agro-allied group, owners of Golden penny on Monday released its unaudited financial results for three months ended 30 June 2020 (first quarter result for the year 2020/21) to the Nigerian Stock Exchange (NSE) with profit after tax of N4.97 billion, an improvement of 17.33% when compared with N4.24 billion in the same period in 2019
The group results showed a 14.72% growth in turnover at N154.579 billion from N1347.45 billion in Q2 2019.
Flour Mills of Nigeria Plc was incorporated as a private limited Company on 29th September 1960 and was converted to a public liability Company in November 1978.
The Group’s business is primarily divided into 4 business value chains which are; Food value chain- flour milling, production of pasta and noodles; Sugar value chain- cultivating, processing, refining and selling of sugar; Agro-Allied value chain- livestock husbandry, production of livestock feeds, sale of fertilizer, edible oil, farming and other agro-allied activities; Support services- manufacturing and sales of laminated woven polypropylene sacks and flexible packaging materials, operation of terminals A and B at Apapa Port, customs clearing, forwarding agents, shipping agents and logistics, haulage and real estate.
