Flour Mills of Nigeria Plc reports N9.34bn loss in 3 months

Adebayo Obajemu

Northern Nigeria Flour Mills (NNFM) on Thursday published its second quarter report for the period ended 30 September 2021.

The report shows significant improvement in the Company’s top line and bottom line figures, year on year.

A turnover of N8.01 billion was reported for the six month period, up by 84.37% from N 4.34 billion reported the previous year.

Profit after tax grew by 18.72% to N173.742 million from N146.342 million reported the previous year.

Earnings per share (EPS) of the Company increased to 97 kobo from the EPS of 82 kobo declared the previous year.

At the share price of N8, the PE ratio of NNFM stands at 8.21x with earnings yield of 12.19

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