By InvestAdvocate

Lagos INVESTADVOCATE)- Fast Moving Consumer Goods (FMCG) company, Flour Mills of Nigeria Plc (FMN) said on Monday its  first quarter (Q1) pretax profit for the period ended June 30, 2015 plunged 66.5 percent to N1.188 billion from N3.545 billion recorded a year ago.

Similarly, profit after tax (PAT) declined 65.6 percent to N971.98 million from N2.823 billion in the same period of 2014.

Revenue inched up to N82.281 billion from N83.947 billion posted in the Q1 of 2014; indicating a marginal increase of 2.0 percent in the review period, Flour Mills said in a filing with the Nigerian Stock Exchange (NSE).

Shares of FMCG firm  at the close of today’s trading on the Nigerian bourse rose by 4.99 percent  to close at N26.32 from N25.07 recorded last Friday; gaining N1.25 kobo per share.