January 30, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-Flour Mills of Nigeria Plc on Wednesday said its third quarter (Q3) pretax profit for the period ended December 31, 2018 declined -40.39 percent to N7.89 billion from N13.24 billion in the same period of 2017.

Post-tax profit of the fast consumer moving goods (FCMG) firm declined -42.17 percent in the Q3 period of 2018 to N11.27 from N19.50 recorded a year ago.

In the same vein, revenue of Flour Mills of Nigeria depreciated -6.28 percent to N400.64 billion from N427.50 billion declared in the Q3 period of 2017, the company said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Flour Mills of Nigeria at the close of trading on the domestic bourse declined -2.06 percent to N19.00 from N19.40 per share posted the previous session.