Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15%

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Flour Mills of Nigeria PLC Q2-2020 financials show impressive growth in gross earnings by 31.15% from N270.76 bn in Q2-2019 to N355.11  billion in the current period. Topline performance was specifically boosted by a 45.87% and 29.47% increase in income from Agro-Allied and Sugar operating segment respectively.

Flour Mills of Nigeria’s revenue from Agro-Allied business advanced from N49.40 to N72.06 in Q2-2019 and Q2-2020 respectively. Similarly, income from the Sugar operating segment also increased to N58.19 bn compared to the N44.94 bn in the earlier operating period.

Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15% Brandspurng1

Gross Profit rose by 58.26%

Following a 3.00% decreased in Cost margin, Gross profit increased by 58.26% to N50.29 from the previous record of N31.77 in Q-2 2020. This was also accompanied by a 26.74% increase in finance income amid 12.59% increase in the cost of funds.

Profit After Tax improved by 68.26%

With a whopping 69.17% advancement in Profit Before Tax (PBT), FLOUR MILL Profit after tax (PAT) increased by 68.26% driving the EPS up  by 53.29% to N2.33. Flourmill PBT increased from N8.63 bn to N14.60 bn while the PAT also increased from N 5.90 bn to N9.93bn.

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Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15%
Source: Company filings, PFI Capital | www.brandspurng.com

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Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15% - Brand SpurFlour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15% - Brand Spur

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Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15% - Brand SpurFlour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15% - Brand Spur

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