KENYA – Listed Kenyan flour miller Unga Group Ltd has reported a 46 per cent increase in annual pretax profit after revising down its profits for the previous year following the adoption of new accounting standards.
NIGERIA – The Standards Organisation of Nigeria (SON) on Thursday said that Small and Medium Enterprises (SMEs) would play major role in the newly drafted standards for cassava products in the country.
WORLD – As the result of two consecutive years of good harvests, global cereal inventories are expected to rise to their highest levels in 15 years.
KENYA – Cake City, which is part of the Pride Group, has budgeted Sh150 million to open 10 new shops in Nairobi, Mombasa, Eldoret and Kisumu over the next year.
NIGERIA – Shareholders of Honeywell Flour Mills plc on Tuesday unanimously approved a total dividend pay-out of N1.34 billion representing 17 kobo per share as proposed by the board of the company at its 5th annual general meeting in Lagos.
NIGERIA – The Chairman, Flour Mills of Nigeria Plc, Mr. George Coumantaros has revealed plans by the company to expand its production capacities and facilities.
NIGERIA – In support of the federal government’s agriculture transformation agenda, Honeywell Flour Mills Plc has invested about N1billion to modify its mills for increased cassava flour inclusion, Managing Director/CEO of the company, Mr. Lanre Jaiyeola, has said.
NIGERIA – The Federal Executive Council (FEC) on Wednesday approved N13 billion for the procurement of 10 integrated rice mills and six high quality cassava flour mills to boost domestic rice and cassava production.
NIGERIA – Flour Mills of Nigeria Plc has announced a profit before tax of N3.54 billion for the first quarter ended June 30, 2014 showing a decline of 24.5 per cent over N4.69 billion recorded in the corresponding period of 2013.
NIGERIA – As a demonstration of confidence in the Nigerian economy, part of efforts to respond to growing demand, and strategy to deepen its market share, Sona Agro Allied Foods, a leading manufacturer of biscuits, cream wafer, seasoned puff corn, multi cereal bars in Nigeria, recently boosted its biscuits production capacity with the installation of a new soft and hard biscuits production lines from Europe.
ETHIOPIA – The second consignment of two million quintals of wheat the government bought from Ukraine will arrive at the Port of Djibouti by the beginning of September 2014.
NIGERIA – Flour Mills of Nigeria (FMN) has said it is well positioned to enhance profitability and deliver long term value to its numerous stakeholders.
ZAMBIA – The Millers Association of Zambia says the government needs to urgently review storage capacity in view of the overwhelming amount of maize collected during the current crop marketing season.
KENYA – Maize prices in the North Rift have hit their lowest level in eight months as farmers release the produce they have been hoarding, further easing pressure on the cost of flour.