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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