Flour Mills records 97.42% drop in profit to N258m in nine months as cost of sales hits N1.329trn

WorldStage Newsonline– Flour Mills of Nigeria Plc has recorded a 97.42% drop in group profit for the nine months ended 31 December 2023  to N257.993 million from N10.018 billion in same period in 2022.

While group revenue rose to N1.559 trillion during the period from N1.114 trillion in 2022, cost of sales rose to N1.329 trillion from N1.011 trillion.