Flour Mills of Nigeria Plc (FMN), a food and agro-allied company has recorded 49 per cent increase in revenue to N2.3 trillion in its financial results for the full year ended March 31, 2024.
The performance demonstrate resilience and agility in navigating a dynamic economic landscape.
The Group’s revenue of N2.3 trillion was driven by sustained demand across all business segments and was higher than N1.5 trillion in the previous year. Gross profit increased by 54 per cent to N273 billion, reflecting effective portfolio management product innovations, pricing and cost optimization measures leading to 61 per cent growth in Operating Profit.
Profit Before Tax and foreign exchange impact improved by 90 per cent to N141 billion. The group generated significant cash flow, with a solid net cash position of N176 billion, providing flexibility to invest in growth opportunities and the ability to fulfil debt obligations.
Speaking on the…
Source: Thisday Newspaper
