Honeywell Flour Mills drives affordability of spaghetti in Nigeria with launch of new mini-pack

NIGERIA – Leading wheat-based products manufacturer in Nigeria, Honeywell Flour Mills Plc, has launched its new spaghetti mini pack as part of efforts to develop pocket-friendly products to customers. According to the company, the launch of Honeywell Spaghetti Mini was based on extensive research and insight into the Nigerian consumer behaviour which highlighted a shift towards purchase of smaller pack sizes of commodities. The spaghetti mini 200 gm pack has a retail price of N100 (US$0.24), fulfilling the company’s drive for affordability. Commenting on the launch of the product, Managing…

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Honeywell Flour Mills boasts of 73% rise in full year profit attributed to operational efficiency

NIGERIA – Leading flour milling company in Nigeria, Honeywell Flour Mills Plc has recorded an all-time high revenue of N109.5 billion (US$266.8m) in the year ended March 2021, reflecting a 36% jump over N80.4 billion (US$195.9m) posted in the previous year. The rise in earnings is attributed to increased production output and more efficient operational capabilities at its factories in Apapa, Sagamu and Ikeja. Despite the increase in production activities, challenges with forex and COVID-induced disruptions in global trade, affected the sourcing of raw and packaging materials leading to cost…

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Honeywell Flour Mills posts US$12m profit

NIGERIA – Shareholders of Honeywell Flour Mills Plc last Friday approved N475.812 million for the year ended March 31, 2017. The dividend, which translates to six kobo per share, was approved at the annual general meeting (AGM) of the company held in Lagos. The company recorded revenue of N53.23 billion (US$148m), up by five per cent compared with N50.88 billion posted in the 2016. Gross profit soared by 191 per cent from N4.36 billion to N12.71 billion. The company achieved a profit before taxation,  of N5.47 billion in 2017 from a loss  of N2.869 billion in 2016, while profit after tax…

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